Smart meters and connected devices are throwing up a huge amount of data and energy retailers are working hard to look at how they can use this information to offer insights to customers. So where is the value in this new opportunity for energy retailers and customers alike?
David Trevithick, Energy Insights + research manager at Delta-EE, explains energy insights are now a mainstream offering and energy retailers must think about offering advanced energy insight solutions, with the customer in mind.
“It’s about shining a light on [customers’] energy consumption and giving them greater transparency into that and their bills, empowering them to reduce their costs.”
A benefit of providing this information to customers for energy retailers includes reducing the number of inbound calls to their call centre. This in turn lessens their staffing costs and ensures those who do still call are given the time and attention they would like.
Gilles Corby, formerly energy insights product manager at British Gas, suggests those who would otherwise be accepting inbound calls can focus on sales calls instead; something which is very helpful given British Gas not only sell energy but insurance and boiler services as well.
By giving customers reliable, useful advice, this increases customer loyalty and retention over time. Stephen Galsworthy, Chief Digital Officer at Quby, says “a typical utility across Europe has quite a strongly negative NPS (Net Promoter Score) but if you can boost that this can really turn around a company’s ability to interact with its customers”.
Energy insights can also generate additional revenue, with some companies charging a premium for the service.
Find out more about what’s going on in this space in a recent episode of Talking New Energy, a podcast from Delta-EE, available below or at www.delta-ee.com/talkingnewenergy.