The world of energy and utilities has changed. Forever.
Over the past two decades, the energy and utilities sector has been experiencing structural changes, the most important of which were related to the unbundling, liberalization and opening of the market to independent retailers. These changes were initially accompanied by a slow but continuous increase in customer expectations despite the company’s aging workforce, infrastructure and legacy systems. Recent years have brought radical changes, which will change the face of the energy sector over the next decade.
Global warming, carbon emissions trading, increases in energy prices for businesses and households, increasingly affordable and efficient solar panels and wind farms, movement away from diesels and petrol to electromobility, sharing economy models - each of these phenomena could quite independently disrupt the traditional energy and utilities world. However, in recent years they have all occurred simultaneously, forever changing the relationship between energy companies and their consumers.
Customers drive today’s energy and utilities companies
Today, many energy organizations are embracing digital transformation. This is always a complex process and its success is influenced by many factors. Multidimensional digital transformation, however, is not about replacing old legacy systems with new ones. This is a much deeper change that takes into account every layer of the organization, across each of its demarcated silos. This is not only about influencing technological change but also about transforming business culture. Customer-centricity is thus becoming not only an inherent aspect, but also one of the most important goals of the entire transformation program. A deep customer understanding will drive business growth and open up completely new revenue streams for energy companies, thanks to self-service capabilities and digital products and services offered through an e-commerce channel.
An energy company digital platform. Driving customer loyalty and value.
The ENCO digital platform reflects how increased customer needs and goals are supported by modern energy providers in ways that shape our everyday life. More importantly, most of these challenges have been addressed using a new service-based and event-driven omnichannel architecture along with AI-based personalization and recommendation technologies.
Omnichannel consistency and convenient User Interfaces
Take advantage of the position in which your clients are connected to the network. This is a unique situation thanks to which you can offer truly omnichannel service. A myriad of orchestrated digital touchpoints, consistent self -service, e-commerce services and single data source can provide consistent and optimized customer experience.
Flexible customer journey enabled by platform architecture
Architecture supports omnichannel touchpoint diversity and consistence of service. Modularity assures flexibility of ecosystem development.
ENCO digital platform features
Empowering personal relationships
Offering energy and energy-related services, the platform enables the establishment of the personalized approach. It uses intelligent predictions and personalized recommendations based on actual client needs that will enrich their day to day life. Such empowerment is achieved by ensuring that data is the main driver of digital innovation.
Addressing energy-saving and eco-lifestyles
Energy savings and eco-lifestyles are not simply a matter for the future. They are a high priority today. Energy costs in many European countries have grown significantly and energy bills account for a significant percentage of household spending. Energy companies can take this into account in a rational way, and at the same time turn it into an impulse for business development.
Extending revenue streams
Energy companies need to consider new opportunities such as: Multi-energy, additional energy-related products, new value-added digital services, and even innovative business models based on bilateral customer relationships like f.e. prosumers, individual settlements, smart homes, etc. Companies need to look beyond the meter and instead consider new energy ecosystems.
Customers want the highest quality of service in one application from a single energy provider. This one source approach offers energy providers the opportunity to capture peak moments of their journeys and offer specific, well-matched goods. These can be smart devices, power-packs or even e-mobility charging plans. If you make the right choice, you will build loyalty and keep your customers coming back for more.
Increasing Customer Lifetime Value and churn prevention
The dynamics of today’s consumer market mean that if companies don't have the right Next Best Offer ready, customers will go elsewhere. What is the solution? Go beyond being simply the "commodity provider" and connect with the customer through value-added services. By offering more products at a well-calculated price, companies can overtake low-cost competitors with a range of services.
Customer loyalty and engagement
Digital relationships should drive loyalty. However, nurturing loyalty and raising engagement can be difficult. Establishing a positive relationship with customers is a common challenge facing energy and utility companies.
AI-based conversational interface
An AI-based conversational interface is more than just a "chat-bot", it is a completely new tool for speaking with customers. It includes previously unknown capabilities - from explaining the details of invoices and complex contracts, to completing transactions (shopping, energy provider switching etc.). This is not only another tool to support or relieve contact-centers, but an equivalent cost-free contact channel.
Gamification that drives customers' emotions and loyalty
Gamification for both young customers and those from older age groups. By offering rational competition, the customer gains a better understanding of the energy offer, makes more purchases of additional services and builds long-term loyalty.
Customer Experience Management
Customer Experience Management is a “must have” solution that ensures the highest quality customer experience at every stage and every point of contact with energy providers and subcontractors. “X Data” (subjective experience data) + “O Data” (operational data from various legacy systems) combined and analyzed together illustrate their impact on energy company business indicators. We can measure customer interactions at every important moment, get insights and invoke actions and initiatives to improve the customer experience.
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