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Expert view: Using data analytics to improve customer service

At a time of upheaval in the retail energy market, world-class customer service has never been so crucial – not only for customer acquisition, retention and return on investment (ROI), but for building relationships with customers at a time when trust is low.

Data is central to creating a seamless customer experience. It establishes the customer’s relationship and can improve satisfaction with their energy provider.

Understanding your audience and simplifying things for them is where data and analytics really add value. Once you have made a connection with a customer and they request more information, finding the right price should be their only responsibility – you must make all other aspects smooth sailing.

Reducing the burden on the customer to have and understand their own usage data is no longer a differentiator; it’s a necessity and an expectation of today’s digital natives.

At ElectraLink, we apply this customer-centric thinking to our data solutions for price comparison websites (PCWs) and third-party intermediaries (TPIs).

Since PCWs and TPIs rely on a customer’s data to provide tailored prices, making this data accessible ensures a customer’s experience is quick, easy, and smooth from start to finish as customers do not need to spend time finding and inserting all the necessary information themselves.

Data from a reliable centralised source is also more accurate so quotes can be based on realistic consumption forecasts and the customer gets a fairer prediction of their energy costs. Therefore, satisfaction is higher, acquisition time is lower and the PCW or TPI succeeds with a greater ROI on their commission.

For energy suppliers, this customer-centric approach allows customers to spend less time looking around the home for old bills and meters.

With just a few of their details, you can suggest a tariff, provide a quote that accurately reflects their predicted usage, send through a contract and change their supply within days.

When resolving issues through customer service lines, if the supplier has the same data as the PCW or TPI, the issue is resolved sooner. This reduces the supplier’s costs and increases ROI, especially as satisfied customers are more likely to stay for longer.

Finally, you can then use data to hone customer personas and develop new products for emerging needs.

  • Find out more by visiting Electralink online or at stand L40 at Utility Week Live.

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Supporting vulnerable customers and Delivering best in class customer services are among the frontline challenges at the heart of Utility Week Live 2022’s live content programme. View the programme.