Reducing customer churn with virtual-first care in the UK energy market
The deregulation of the UK energy market has been a double-edged sword for customers and suppliers: On one hand, the increasing amount of small to midsized suppliers entering the market has been great for competition, but the ensuing volatility has resulted in massive amounts of customer churn. In 2019 alone, nearly 11 million people in the UK switched their energy suppliers.
Based on these trends, it’s become clear that understanding customer acquisition and retention will define how energy suppliers keep the lights on. But how do suppliers achieve this while still controlling costs and remaining profitable?
In this whitepaper, we’ll discuss how to:
-Integrate more effective customer experience strategies to prevent churn
-Better understand customers to move beyond a transactional business model
-Deliver amazing service with a lower cost of ownership
-Use virtual-first technology to provide 24/7/365 service