Following widespread industry deregulation, the energy and utilities sector has become increasingly competitive. With more and more choices available to customers, providing quality customer service is more critical than ever. Customer loyalty is no longer guaranteed, with negative experiences driving ratepayers to the competition: 43% of utility customers who have a negative experience are still members after a year, compared to 74% of those who’ve had a positive experience. It’s a perfect storm of high consumer expectations, a host of new challenger brands, and online price comparison sites.
In this new era, customer service has become the battleground for organizations in the utilities sector. Those that win on this front are retaining customers and growing revenue. Those who lose are losing big. For example, in 2018, British Gas announced the loss of 340,000 customers and a 20% drop in profits.
Those looking to regain some ground through their customer service offering must first equip themselves with the data necessary to make informed decisions. What metrics should you measure, though? Here are the four key performance indicators (KPIs) your call center must be tracking.
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In the age of disruption, Ryanair may best encapsulate the contrarian, rule-breaking streak sometimes required to conquer an antiquated industry. Just before the turn of the millennium, Ryanair was a tiny, impoverished Irish airline competing with the national carrier, Aer Lingus. As recently as 2017, it was the most profitable airline in Europe, 
Retail is transforming at an increasing rate, and more than ever. Advances in Artificial Intelligence (AI) are changing interactions between customers and brands and are allowing many of these processes to become automated. However, despite these rapid changes, many customers still prefer interacting with an actual person, whether it’s in store with a floor representative, or on the phone with a call center agent.
Ah, the great outdoors. In Canada, we are blessed with an abundance of wildlife, majestic mountains, pristine lakes, and seemingly endless forests. Since the 1970s, if you were an experienced outdoorsman seeking to explore the authentic, raw, outdoors, then a trip to your local Mountain Equipment Co-op (MEC) was in order. Customers came to MEC stores to buy the best hiking, rock climbing, and back-woods skiing gear.
Good training teaches employees in the customer service realm how to handle complex customer issues in the most efficient and customer-friendly way possible. This is important, as customer service is the touchstone for all kinds of customer-facing interactions. In training CS representatives, it’s crucial to help them understand a) what they are doing; and b) why they doing the job. It’s also important to encourage them to form strong relationships with customers through consultative communication, and ensure the customer is taken care of through the life of their relationship with a company.
Last week, Fonolo hosted an insightful live discussion on the current state of AI and Natural Language Processing (NLP). The expert panel discussed how NLP relates to the general field of AI, the pros and cons of different approaches to NLP, and more. To save you some time, we’ve extracted video snippets showcasing highlights from the discussion.
