The value of the UK energy industry, including supply chain, is £149 bn, supporting 1 in every 48 jobs in the country. The sector has had its most unsettled period for a generation.
The Ukraine war and reduced gas flows from Russia triggered an international energy shortage. Wholesale and retail price surges contributed to the failure of over 30 UK retail suppliers but government financial packages and support from surviving retail suppliers helped alleviate pressure on both business and households. Ofcom, licence conditions and price caps all continue to set regulatory challenges for energy retail suppliers.
Climate change is high on the agenda for all utilities, but CX is particularly paramount.
UK ENERGY INDUSTRY VALUE
Including supply chain
The market size of the UK’s water collection, treatment and supply industry is £7.3bn. Current legislation prevents domestic customers from switching water supplier or sewerage service provider but, since 2017, businesses, charities and public sector organisations in England have been able to choose their water and wastewater retailer, which has led to B2B competition.
The energy market is very competitive. It’s been that way for a long time, with often quite aggressive acquisition and retention programmes.
Unprecedented price increases and upcoming regulatory changes mean energy providers need to communicate more frequently and empathically with their customers. That’s easier for newer providers as they’re more agile but more challenging for the big 6 encumbered by legacy infrastructures.
Improving CX is imperative for all utilities – we see this with the C-MeX mechanism that incentivises water companies to provide excellent CX for residential customers; conversely, they’re penalised if they don’t. Complicated line item bills no longer fly.
Customers want easy to understand bills, and to be able to communicate with someone, if needed, across multiple channels. The C-MeX mechanism.
We support some of the biggest utility brands in the UK, we’ve worked with British Gas for over 20 years. Our market leading platform allows us to configure solutions rather than build from scratch.
Having cross sector experience means we’re able to incorporate disrupting capabilities and best practice from other sectors yet still deliver you highly secure and regulated solutions, all from one service delivery model.
Over 35 million comms for one utility
Mail has always been an important part of your communication ecosystem and should remain so but not old-school, legacy transactional print. It just won’t give you the flexibility and agility long term to support your customers’ needs. We have the capabilities to integrate paper as a complimentary channel within a wider holistic solution.
Customers want your communications to be hyper personalised by channel, context, content and time. To give them two-way functionality like email, chatbot or SMS to reduce their effort in interacting with you, to take up offers or change tariffs on the fly. It is this agility that will give you competitive edge in the market and enable you to react superfast to regulatory changes and price increases.
Our integrated platform supports multichannel, it gives you self-serve options so we can facilitate your market-leading, highly secure customer communications. Your industry will continue to face turmoil with regulatory and price changes and global issues.
We can help make CX one less issue for you to worry about, ensuring your customers are proactively and clearly informed.
We have the experience and the people, we’re committed to sustainability and compliance, and we have the capabilities to help drive your digital transformation and save you costs. Ask how we can electrify your performance.
Our latest report THE DIGITAL CUSTOMER, discovers that 48% of consumers – and 63% of under 25s – complain that their utilities provider doesn’t communicate with them enough.
British Gas are continually improving systems to reduce costs, improve efficiency and deliver better compliance.
The centralised document composition model is a proven way of achieving all of these benefits and Go Inspire Solutions have been instrumental in delivering an excellent, flexible and scalable service which we are continuing to improve.
Delivery Manager – Print, British Gas
Our multi-service line platform covers it all: data, creative, composition, execution, reporting and self serve capabilities.
Want to see how we could improve your marketing performance? Let’s start a dialogue.