Customers are evolving: Three steps to more customer-centric utilities operations

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The utility industry is evolving and the customer is at the centre of this evolution. Industries having to adapt to customer needs is not new. The first customer evolution began in the 1980s with ‘Relationship marketing’. While customers became the focus in most industries (Telecom, Insurance, Banking etc.), regulated industries like utilities were left behind due to monopolistic nature of the market. With deregulation during the past two decades, increasingly customers may choose to switch suppliers, making customer management even more important to success and sustainability.