Throughout the residential energy market, energy suppliers are working hard to reconnect with consumers by resetting their customer relationships. Retail Market Reform is changing the conversation with customers, while broader political and regulatory pressure means that issues such as energy affordability and the treatment of vulnerable customers requires co-ordinated thinking across all areas of supply businesses.
Improved customer relationships are a potential source of much-needed differentiation and, although industry level changes such as Smart will force through some changes, equally they leave many questions unanswered as real differentiation will be achieved by the propositions built around Smart rather than simply the platform itself. Customer-focused businesses must therefore listen hard to the voice of the customer to develop propositions which flawlessly address everyday customer challenges.
The utilities companies that work hard to understand their cost base will be able to manage the cost of acquisition, reduce their cost to serve and maintain their margins will continue to be the winners in an increasingly competitive market.
Baringa’s retail energy consultancy works with suppliers to help them re-align their business around their customers. Our services range from designing and delivering change programmes that create trust and enhance standards of contact to devising digital strategies to maximise the benefits of a drive to encourage customers online. At every stage, our work is informed by in-depth knowledge of the broader regulatory environment and we understand how issues and solutions can have an impact throughout the energy value chain.