Expert view: Improving customer satisfaction in an increasingly competitive landscape
Until now the energy sector (in particular the larger big six names) have relied on the fact that gas and electricity are a necessity. However, the emergence of new brands that embrace technologies to meet changing customer needs, means the energy market is increasingly competitive; Populus research shows that a quarter (25 per cent) of the UK public have already switched to a disruptor energy brand. This means that simply delivering energy is no longer enough; providers need to offer more to stand out from the crowd.
Back to basics
Getting the basics right remains a crucial foundation for success. As the competition intensifies, delivering the service and reliability that consumers expect becomes vital. Customers expect a brand to deliver against its product promises, whether that’s delivering a reliable supply or ensuring a constant broadband connection.
And when something does go awry, customers expect the resolution process to be both seamless and effortless. Our research finds that an overwhelming majority (94 per cent) of UK energy consumers want problems to be resolved quickly.
In a world where technology is abundant, and customers are increasingly accustomed to contacting brands via instant messaging, public-facing platforms such as Facebook and Twitter, it is vital that energy providers integrate customer-centric technology in order to be present, seen and available.
Using technology to add value
Disruptor brands use technology to their advantage – introducing it not as “innovative” but something that truly benefits the customer’s life. This concept, founded by the likes of Netflix and Uber, is spilling into the energy sector with the emergence of providers such as Ovo Energy and Bulb.
Beyond delivering the basics, these brands offer a convenient, personalised and engaging service, which is now crucial for keeping customers engaged long-term with a brand. For energy providers, this translates as taking everyday energy provision and making it considerably more “fun” for customers.
Disruptor brands have moved mainstream, adjusting customer expectations, making it imperative energy suppliers of all sizes import learnings to remain relevant in the evolving market.
For further information, visit: https://www.populus.co.uk/insights/2019/08/the-changing-tides-and-currents-of-the-energy-market/
Methodology: Populus interviewed a sample of 2,030 UK adults aged 18+ between 27 and 28 April 2018. Populus is a founder member of the British Polling Council and abides by its rules. For more information, see www.populus.co.uk