Many of these service providers haven’t had to operate in such a competitive market until more recently. Because of this, the fulfillment of customer needs beyond the basic service they offer (such as keeping the lights on or the Wi-fi connected) has been less of a priority.
However, things are changing - and fast with the rise of digital disruptors across all industries.
Today’s consumers expect an Amazon-like experience from almost every company they do business with, whether that’s a retailer, hotel, restaurant, utility provider, or anyone else for that matter.
This means they want providers to embrace the digital world, offer more information, easier access, align with their ethical views and deliver an all-round better customer experience (CX).
In fact, a recent survey found that over 50% of customers would prefer to engage with their utility providers digitally, yet only 33% of consumers recall any digital communication from these companies so far.
Yet it's not as simple as just embracing digitalisation. To achieve full customer-centricity in utilities and telecoms, this must be built into the culture of the business, but there are several challenges organisations in the industry face that prevent this: