This year has seen more than 4.5 million energy customers in the UK switch their provider, with 600,000 of them switching in October alone. The Energy Switch Guarantee makes it extremely easy for consumers to change their provider and the majority of those switching are moving to small and mid-tier suppliers.
Great news for those companies that are winning new customers. Not so great for those who are losing them.
Those companies on the losing end need to pay special attention to the way they are treating their customers and how well they are responding to their needs. Price may play the largest role when customers are considering switching, but customer experience can be the factor that tips the scales. Customers will be more likely to remain loyal to their provider if they know they will have great service and a frictionless experience.
Energy providers can start with some key steps to improve their customer experience: improve company culture, develop a customer experience vision, and build rapport with customers. All of these steps require a deep understanding of what’s going on in your customer interactions. Leveraging products like Speech Analytics and Voice of the Customer platforms can provide the data and insights needed to understand where your company is today in regards to customer experience and then monitor improvements and continued challenges as you take steps toward better culture, vision, and rapport.