Digital Customer Centricity: A Requirement for Utilities

The evolution of digital technology is changing customer expectations for engaging with utilities companies. This is probably the fourth infliction point in the evolution of businesses, from products to services to customer and now to a new digital customer.

Recorded: 17 Oct 2016

Webinar Overview

The evolution of digital technology is changing customer expectations for engaging with utilities companies. This is probably the fourth infliction point in the evolution of businesses, from products to services to customer and now to a new digital customer.

Companies must have clear goals for what they wish to achieve through digital technology rather than simply following market trends. A number of companies have invested in digital technology without seeing results. Few utilities companies have been willing to begin altering their traditional approach to customer experience, with only 25% possessing a digital culture program to educate or support their workforce. Digital transformation isn’t something that can be bolted onto a legacy business model.  So what is Digital Customer Centricity?

Digital customer centricity is not about having digital presence through websites, apps or social media. It’s about using this digital presence for better understanding of the customer in order to provide a more personalized experience. Digital customer centricity is about convenience, context and personalization. In today's age, digital technology is becoming 6th sense and is liberating the customer to control their interactions with personalized responses. However, few companies have adopted the tools necessary for collecting the data necessary for achieving this shift, with 61% of utility executives stating data analyses had been detrimental to their business in the past.

Customer expectations have evolved from "me too" to "for me". Digital technology is changing the paradigm for how companies segment customers and provide services. Utilities companies now need to be more proactive than reactive in providing their product, service or interaction. Digital customer centricity needs to become part of a company’s DNA and permeate every aspect of the organization, affecting people, processes and strategy.