Actionable Insights for the New Energy Consumer - Accenture

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Actionable insights overviewCustomer choiceConsumers will opt for products and services that align withtheir evolving values.No. 1: Offer the "right" mix of products and services.Consumers are increasingly interested in receivingadditional energy and nonenergy-related productsand services from electricity providers.No. 2: Maximize consumer willingness to pay.When it comes to paying a premium,consumers are more attracted todifferentiated products than services.No. 3: Maximize consumer desire to save.The majority of consumers would forgocustomer service in return for price discounts.No. 4: Create a value proposition with bundles.Consumers are interested in bundled packages thatbetter suit their lifestyles and needs, particularly whenthey deliver savings, convenience or ease of use.Customer connectionChanges in technology and the continued consumer move onlineare shifting the traditional preferences for interactions.No. 5: Optimize the value of self-serve.Low-touch channels and self-service havereached a tipping point where consumersprefer these options for most transactionalinteractions.No. 6: Unlock social media.Consumers in many geographies are interested inengaging with their electricity providers throughsocial media, in particular, for service convenience.Customer loyaltyEngaging consumers and understanding the drivers ofloyalty and satisfaction are critical to ongoing success.No. 7: Manage consumer engagement.Satisfaction and engagement actually decreasebased on the length of time consumers interactwith their providers.No. 8: Understand churn.In competitive markets, while switching decisionsare largely price driven, loyalty rewards areemerging as an effective motivator for consumersto stay with their current provider.6No. 9: Engage the next generation.Younger consumers can offer a paradox: theyprefer a complex mix of high-touch interactions,self-service and social media engagement.
Applicability offindings beyondelectricityAccenture’s end consumerresearch program has beendesigned to provide insightsthat are applicable to providersacross gas, electricity and water.Some survey questions are askedspecifically within the context ofa consumer’s “electricity provider.”This specificity helps simplifyquestions and focus consumerresponses—ultimately providingmore clarity in the findings.From our experience working withutilities across different commoditytypes, we understand the uniquechallenges of different providers;however, the new energy consumeris having an impact not just onelectricity providers but also ongas and water providers. Insightsrelated to channel preferences,interest in additional products andservices, acquisition and churncharacteristics and engagementaround conservation are universaland can help to inform consumerstrategies across providers.7
Page 1 and 2: Actionable Insights for theNew Ener
Page 3 and 4: ForewordAround the world, energy pr
Page 5: Methodology and sampleAccenture’s
Page 9 and 10: Actionable insight No.1Offer the
Page 11 and 12: Nonenergy-related servicesConsumer
Page 13 and 14: Around the world, though, we foundt
Page 15 and 16: Actionable insight No. 3Maximize co
Page 17 and 18: Figure 12. Which of the following o
Page 19 and 20: Optimal introduction timeTiming is
Page 22 and 23: ConsumerconnectionThe Web, mobility
Page 24 and 25: Looking more closely at consumerint
Page 26 and 27: Actionable insight No. 6Unlock soci
Page 28 and 29: Social media as an informationsourc
Page 30 and 31: Consumer loyaltyConsumer satisfacti
Page 32 and 33: How involved are consumers?To measu
Page 34 and 35: Further analysis of specific geogra
Page 36 and 37: Actionable insight No. 8Understand
Page 38 and 39: Loyalty rewards programsLoyalty rew
Page 40 and 41: Actionable insight No. 9Engage the
Page 42: In addition, Figure 41 shows that i
Page 45 and 46: Create value with consumer choice:U
Page 47 and 48: Learn about The NewEnergy Consumer:
Page 49 and 50: In previous years, Accenture’s en
Page 51 and 52: Price is the pivotal factor inthe a

Actionable Insights for the New Energy Consumer - Accenture

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