In the electricity sector we talk a lot about 'the customer', but what do we really mean? As we all know, customers are motivated by different things.
At this Talking Heads discussion we shared insights across seven customer profiles as well as some thoughts on how to enrich the value-to-customer conversation – what is their current perception and does this align with what they want to hear about? What’s important to them?
We challenged the notion that all electricity customers are the same. Independent analysis of motivational drivers show that for some price is the only driver but for others choice, and other preferences are important. Much of the current discussion in the sector tends to be around classing a customer based on consumption, or what they should be doing if they were behaving rationally to price signals. But coming from a customer-centric approach we know intuitively that not everyone will respond in the same way, some people value lowest price but others value strong customer-service support or want to be with a company that shows innovation and leads the way with latest apps and trackers or remote tools to manage their use over price.
We also heard from Angela Meyer, co-founder of boutique agency Double Denim. Ange shared key insights from their pioneering research into the way brands can harness the female economy - with women responsible for 80% of all purchasing decisions and 78% saying that great customer service is the most important factor when choosing a retailer.