August 19, 2020 | Shannon Latta

By Making CX a Bright Spot, Electric Utilities Boost CSAT & ROI

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New report ranks top 25 providers, identifies CX trends, and shares COVID-19 best practices

The new Verint Experience Index: Electric Utilities report reveals that delivering on CX pays off for providers. Consumers who have a great experience have a:

Based on input from more than 6,200 electric utility customers, the report makes it clear that customers judge utility providers by the same experience yardstick they use for retail, banking, and other marketplace interactions: They expect convenience and personalization, and reward providers that deliver.

In the rankings of 25 top providers in the U.S., Florida Power & Light Co, Georgia Power Co., and XU Energy earn highest customer satisfaction (CSAT) marks from customers. Florida Power & Light and Georgia Power also finished first and second in the NPS rankings.

With COVID-19 impacting both utility customers and providers, the Index includes a special section on CX best practices utilities are using to overcome social distancing and economic challenges. Based on interviews with several utility CX teams, topics include contact center changes, adapting data collection, communication strategies, and other issues.

The High Cost of Digital Failures

While customers are still on omnichannel journeys—paying bills on web and mobile but calling the contact center about outages, for instance—digital self-serve should be a critical focus area for providers: Among respondents who reached out to the contact center, 42% tried digital first but couldn’t find what they were looking for or encountered technical issues.

If electric utilities could convert one-quarter of these digital failures to self-serve, they could save $945,000 for every 1 million contact center calls.

The report chronicles a number of other CX findings, including opportunities for cost savings in outage reporting, how the right combination of engagements can improve CSAT by more than 7 points, and that communication around product awareness could also improve company satisfaction.

Get the full report here. To get even more out of our Verint Experience Index, contact us for a personalized briefing to talk about your challenges and how our Experience Management strategies can help.

About the Author

Shannon Latta is vice president of marketing and communications for Verint ForeSee, responsible for brand and positioning, content strategy, product marketing, corporate communications, and marketing results.

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