Of the many harsh truths that the energy crisis has unveiled, there is one fact that many in the utilities sector are now all too familiar with: many customers simply do not have faith in their energy supplier. In fact, recent research from UK brand intelligence firm Ello Group has found that only one in 10 (12%) of customers trust their current energy retailer. The Group’s survey of 1,000 consumers revealed that brand loyalty is becoming weaker as the cost of living crisis persists, with one in five admitting that they have switched energy suppliers in the past 12 months.

While these figures spell bad news for the utilities sector, there is a silver lining: 14% of respondents stated that their trust in mainstream brands would likely increase if there was more of a demonstration by energy retailers that they are actively listening to their customers’ needs and reacting accordingly. With brand loyalty at an all time low, as well as websites such as Which? making it easier for consumers to explore their options, customer engagement is oftentimes the determining factor for many – especially when prices are practically identical, and consumers are simply looking for that one distinction.

For many commercial sectors, one key aspect of customer engagement is to identify, empathise with and resolve pain points. Pain points are defined as persistent problems with a product or service that inconvenience consumers; simply put, they are needs that are waiting to be met. For energy retailers, pain points can most frequently be seen when it comes to collecting meter reads from customers, as this is where many companies have failed to optimise their operations. By locating and finding solutions for these pain points within the energy reading collection process, you should find that your customers, and thus your business, benefit as a result.

What are the Key Pain Points?

Many of the pain points that can be identified around the energy reading collection process come down to the consumer’s perceived lack of control over their utilities, alongside their belief that energy retailers simply aren’t meeting their demands for efficient, easy to use omnichannel solutions to their problems. For example, as mentioned in the introduction, the sharp spikes in energy prices that we’ve seen over the past two years, alongside the complexity of energy price caps, has led many consumers to feel disenfranchised with energy retailers and, as a result, reluctant to pass over sensitive information such as meter readings.

Confusion surrounding bills and billing cycles is also a pervasive issue for many. A general poor understanding of the importance of supplying meter reads to illicit accurate bills means that even when customers do submit readings, many won’t understand how this translates into a bill. This can be frustrating for many consumers, as if they cannot fully appreciate what their money is being spent on, it can be perceived as needless or excessive. In turn, energy retailers will receive more incoming calls from perplexed customers, at a cost to the retailer. It is crucial, then, that retailers work to make the energy reading collection process more accessible and transparent to resolve this pain point.

Although they eliminate the need for meter readings to be taken, there is still a lingering mistrust of smart meters amongst consumers. There are a number of reasons for this, though the biggest one appears to be the fears around privacy. Certain privacy campaigners have raised concerns that smart meter information regarding consumers’ energy usage could be leaked to third parties without their permission. Although, as all energy retailers will be aware, there are laws in place to stop this from happening, the regulations determining how tech companies can use data are becoming more complex.

On top of this, even if customers are happy to have a smart meter installed, the cost of living crisis means that there is now a large backlog of customers waiting for their energy provider to supply and fit a smart meter, which only fuels the feeling of apprehension that many customers are already feeling towards their suppliers.

Finally, a general lack of engagement with submitting meter reads can prove costly to utility companies. Not only is it expensive to call, write and SMS customers to remind them to submit readings, but there is also the cost of sending third parties to physically visit properties and take readings. This pain point can similarly be resolved by streamlining business processes and finding a more efficient, automated solution.

How Can ChatBuilder Help?

Having identified your pain points, the next step is to find ways to solve them. One such solution is to enlist the services of ChatBuilder: an innovative communication channel which combines multiple mediums into one easy to use chat-based tool. Currently favoured by a number of organisations within the energy sector, ChatBuilder can help to simplify the often complex processes of collecting meter readings and managing customer payments. We are the ideal solution for suppliers that require an efficient and streamlined communication tool for customer service and support.

In light of the pain points discussed above, here are just a handful of the ways that ChatBuilder works to iron out such issues through its product offerings:

• Automated Meter Reads: This active digital method helps to increase the volume of submitted meter reads for the retailer, whilst minimising the level of effort expected of the customer or business. This ultimately results in accurate bills and reduced third party costs.

• Reduced Call Centre Communications: ChatBuilder can automate customer communication, as well as answer, prioritise and redirect queries automatically.

• Optimised Data Collection: Users can easily respond with business critical information, such as property move in / move out dates.

• Improved Account Health: ChatBuilder can help energy retailers to re-engage a lapsed or stagnant database of customers straight to their mobile devices..

• Debt Collection: ChatBuilder opts for a softer yet more effective direct communication with customers to highlight any outstanding payments, and allow them to pay with ease prior to the retailer employing any more aggressive forms of collection.

If you are an energy retailer who wants to automate your meter reading strategy and improve customer engagement through optimised solutions, then please get in touch with ChatBuilder at your earliest convenience to request a demo.