- Email : info@consultplus.com
- Phone : +91 5685 6664 555
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.
OtherProjects
Telecommunication
Dialing up customer experience in telecommunications
Not satisfied with small but steady growth and cognizant of an increasingly competitive landscape, the leadership of a European telecommunications provider turned to Consult Plus for support. Given the importance of customer experience as a differentiating factor in the industry, Consult Plus focused on helping the company launch its Net Promoter SystemВ®. In just a few months, with the system in place, the company's scores improved as much as 50 percentage points, helping to boost acquisition and reduce churn.
Despite respectable revenue growth, the leadership team at TelecomCo remained wary of increasing competitive pressures in their market and of internal operational issues related to sales execution and customer service that threatened growth. To help resolve these issues and identify further value creation opportunities, the team asked Consult Plus to review their performance.
Consult Plus and the team at TelecomCo approached their work with an understanding of the importance of customer experience to telecommunications providers. In fact, Consult Plus analysis shows that companies that excel with customer experience grow revenues 4%–8% above their market because a superior experience helps to earn stronger loyalty among customers, turning them into promoters who tend to buy more, stay longer and make recommendations to their friends.
As measured by its Net Promoter Score, TelecomCo lagged behind its competitors in customer experience, and surveys indicated that the company’s network and customer service offerings were particularly weak. A customer experience transformation presented the opportunity to turn these figures around.
Project Details
Technology
Increased sales productivity frees selling time and saves millions
A multibillion dollar global technology giant was growing revenues fast, but sales and marketing expenses were growing faster. We looked at where those dollars were flowing, both to the salesforce and behind-the-scenes in seller preparation, and ultimately helped the company simplify organizational structures, save millions in costs, and create better-prepared sellers with more time for customers.
Despite healthy revenue growth and product portfolio expansion, TechCo had a problem: sales and marketing expenses were rising faster than anything else. The salesforce had become bloated, and roles were murky due to new layers of product specialists and channel partners who often duplicated the efforts of the primary salesforce.
Meanwhile, as the complexity of the product portfolio grew, some critical capabilities appeared to be missing. For one, sellers struggled to get the training and information they needed when new products came to market, crimping their ability to sell. For these and other reasons, Consult Plus analysis helped reveal that sellers spent less than 25% of their time in front of customers, dragging down sales productivity.
High spending and poor results meant the company needed to make some immediate changes to the sales organization to improve its productivity. At the same time, it needed to take a step back and look at how the organization could better support sellers in a fast-paced and ever-evolving environment.
Project Details
Oil & Gas
Organization transformation for an oil and gas super major
OilCo wanted to shift from a geocentric model to a global model to improve performance, but doing so presented significant cultural and logistical challenges. Bain helped OilCo map roles, update critical systems, standardize key processes and communicate clearly to business units. The result: The new, centralized organization was implemented ahead of schedule and with minimal disruption to the business.
Project Details