Categories

Tags

CS Week Fort Worth: The Roundup

At this year’s CS Week conference, I was glad to hear the opening keynote speaker, Mike Guyton of ONCOR (this year’s host utility), talk about the progress and innovation our industry has already seen, and the exciting advancements that digital and IoT technologies are enabling within the realm of customer engagement. What thrilled me was the emphasis on real facts, figures and proof points that this year’s lineup of speakers delivered. Here’s a roundup of some of the best stats and results we learned during the conference:

The New Energy Consumer

  • 78% of consumers would use more digital channels if they were provided with a personalized experience across digital channels. (Accenture)

  • 95% of millennials would be more likely to consider switching to a different energy provider if their energy provider is not able to provide a seamless experience. (Accenture)

  • 57% of customers expect their energy provider to partner with other companies. (Accenture)


As Eric Mastroianni and Matthew Sexton from Con Edison put it, you’re not being graded against other utilities like water, you’re being graded against customer service-oriented businesses like Amazon. Energy consumer expectations have escalated, and utilities that step up to meet them have seen impressive results...

Utility Case Studies

  • PSEG LI went from last in 2013 to the second quartile as of Q4 2016 on JD Power’s Residential Customer Service Index after dedicating their business model to focusing on the customer.

  • After their shift to customer-centric practices, PSEG LI has shown more improvement in their JD Power scores than any other utility in the past three years.

  • 81% of Duke Energy customers value having access to energy savings tips within their High Bill Alerts.

  • 72% of Duke Energy customers are okay with their auto-enrollment process for High Bill Alerts.

  • Semantics Matter: ConEd’s use of the term “neighbor” for home comparisons on their Home Energy Reports didn’t work in New York, but “similar homes” did.


Utilities like PSEG LI, Duke Energy, and ConEd have made great strides in improving and maintaining exceptional customer experiences. If there’s one thing our time at CS Week has taught us, recent and upcoming advances in technology, more specifically in the Internet of Things space, will allow for more personalized interactions, more new product and service offers, and as a result, more satisfied customers...

The Internet of Things (IoT)

  • Utilities are leading IoT adoption with 67% of utility survey respondents indicating they already use the IoT. Oil and Gas falls second with 47% of respondents already using the IoT. (Gartner)

  • 21 Billion “things” will be connected by 2020, and about one quarter of that number will be relevant to the utility space. (Gartner)

  • By 2021, 1 million new “things” will join the IoT every hour, with the majority of that coming from the consumer. (Gartner)


Were you with us in Forth Worth last week? Let us know some of your favorite take-aways by tweeting to us @Tendril!

Related

Categories

Tags

  • Continuous Demand Management
  • Customer Ops & CSAT
  • DERs
  • DSM
  • Data Analytics
  • Demand Response
  • Disruption
  • Energy Efficiency
  • HERs
  • High Bill Alerts
  • Privacy & Security
  • Real Estate
  • Smart Home
  • Solar

    Subscribe to This Feed