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Energy companies are not confident in their ability to interact with customers digitally, according to IDC Energy Insights.
The research firm surveyed 75 energy executives from across Europe, and found that less than 30 per cent are ‘very confident’ in any of the 15 key customer engagement capabilities identified in the report – which included customer analytics and targeted web marketing.
The report found that in active markets like the UK energy retailers may lose as many customers as they gain every year, which can have a negative effect on economic performance.
IDC Energy Insights head of Europe Roberta Bigliani said: “The energy industry is in transition but it needs the right tools and expertise to transition successfully.
“If energy retailers are to remain relevant to customers, they must master digital engagement tools. The bottom line monthly bill amount should only be part of the conversation utilities have with customers, not its entirety.”
The research also showed that increasing customer satisfaction scores is the “most important goal” for energy retailers, and increasing revenues and customer engagement were identified by respondents as of the lowest priority.
However, 84 per cent of the executives surveyed said that they are investing in advanced customer engagement systems and 68 per cent are already using cloud-based applications or planning to incorporate them soon, moving away from traditional IT models.
The research aimed to reflect how well-prepared the industry is to respond to the findings of a two-year investigation by the CMA, which were announced this morning.
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