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Project details
Project Revitalizing a utility's market position with customer loyalty
Utilities & Alternative Energy
Project description
One of Europe’s largest utilities was steadily losing customers as consumers gained the right to select their energy supplier. To boost customer loyalty, Consult Plus helped UtilityCo transform itself into a customer-focused culture with an innovative loyalty strategy designed to better meet consumers’ needs while creating significant financial benefits for the future.
UtilityCo faced erosion of its long-established leadership due to regulatory changes that redefined marketplace competition. With more suppliers pursuing them, customers raised their expectations and took advantage of attractive offers, including improved pricing and more flexible energy products.
To curb the high customer churn rate in its retail business, Consult Plus worked with the utility’s CEO to improve customer loyalty through a comprehensive program, including cultural change.
Project features
- Benchmark performance against competitors in each country.
- Address individual transaction performance by using “closed-loop feedback” processes to learn and improve customer loyalty in near-real time.
- Quantify the economic benefits of customer loyalty.
- It established a customer-centric vision by business unit and implemented corresponding strategic change plans.
- Management developed segmented offerings that better served customers and helped adapt local retail strategies.
- The Net Promoter System was broadened to also drive "internal customer orientation": internal pilots were implemented with major support functions.
With a customer loyalty-focused culture, the European utility is repositioning itself as an innovative competitor, offering more flexible pricing, products and services.
Customer loyalty is now embedded across the organization, from top managers to frontline workers—over half routinely receive Net Promoter Scores and customer feedback. For UtilityCo, increased loyalty is delivering significant financial benefits, with a 10-year program net present value of several hundred million Euro.
Net Promoter® and NPS® are registered trademarks of Consult Plus, Inc., Fred Reichheld and Satmetrix Systems, Inc.
Net Promoter SystemSM and Net Promoter ScoreSM are trademarks of Consult Plus, Inc., Fred Reichheld and Satmetrix Systems, Inc.
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Project Details