Customers have limited information access Customers love to stay informed, but information about planned outages, service disruptions, unexpected bill increases, and even tips on energy conservation are not easily accessible. It is difficult to keep customers in the loop, build trust, and reduce frustration when unexpected situations arise. experience that utility companies can no longer ignore. Customer care teams are now expected to cater to a wide range of customer needs and support an omnichannel approach to customer care, ranging from traditional phone calls to self-service, mobile, AI chat-bots, and other digital channels . Inability to meet evolving customer expectations Consumer industries are setting new benchmarks for customer Lack of deep customer insights Challenges related to personal data security regulation result in an inability to understand customer behaviour and hinder development capabilities. Utility companies are facing challenges in collecting real-time customer-related information and leveraging these insights across different lines of business to improve customer experience and identify new business opportunities. Disruption and competition from emerging technologies Rapid advancements in energy efficiency, self-generation, and battery storage disrupt traditional utility retail business models. A growing number of third-party companies, including start-ups, pose a threat to traditional energy retail business models.
LOW CUSTOMER SATISFACTION
LOW REVENUES FROM NEW RETAIL BUSINESS
Public
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