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.