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Utility Spending on Customer Engagement is Expected to Grow from $636 Million in 2016 to $774 Million in 2022, According to Navigant ResearchA recent report from Navigant Research analyzes the key market drivers and inhibitors related to utility residential customer engagement, providing case studies, profiles of major players, and best practices for utilities and their partners. Utilities and their vendor partners face ongoing challenges in deploying effective technologies and services aimed at improving customer engagement. Best practices for utilities seeking to improve their customer engagement game include updating web portals with energy-saving tools and customer-centric data, offering mobile applications to enable bill paying, and embracing social media channels like Twitter and Facebook (News - Alert) to gain valuable and timely feedback-especially during outages. Click to tweet: According to a recent report from @NavigantRSRCH, utility spending on customer engagement is expected to grow from $636 million in 2016 to $774 million in 2022. "Customer engagement used to entail sending a monthly energy bill, dealing with high bill complaints, and finding resolutions for customers experiencing power outages," says Paige Leuschner, research analyst with Navigant Research. "Customers are now more proactive and expect more insight into energy usage." A diverse set of businesses, such as telecom providers, broadband firms, and security companies, now offer energy-related products and services, and this competition is motivating utilities to respond with better engagement strategies, according to the report. At stake is the highly valued customer relationship utilities enjoy; utilities failing to recognze the threat posed by these players do so at their own risk. The report, Residential Customer Engagement, examines the key market drivers and inhibitors related to utility residential customer engagement. The report highlights several case studies where utilities are providing the additional tools and communications pathways customers expect today. Some of the major players that aim to support enhanced customer relationships in the utility customer engagement space are profiled, including telecommunications providers, broadband companies, home security providers, tech companies, distributed energy resources (DER) vendors, and others that solely serve utilities. The study also provides a set of best practices for utilities and their partners as they navigate this changing customer engagement landscape. An Executive Summary of the report is available for free download on the Navigant Research website. About Navigant Research Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team's research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Energy Technologies, Utility Transformations, Transportation Efficiencies, and Buildings Innovations sectors. Additional information about Navigant Research can be found at www.navigantresearch.com. About Navigant Navigant Consulting, Inc. is a specialized, global professional services firm that helps clients take control of their future. Navigant's professionals apply deep industry knowledge, substantive technical expertise, and an enterprising approach to help clients build, manage and/or protect their business interests. With a focus on markets and clients facing transformational change and significant regulatory or legal pressures, the Firm primarily serves clients in the healthcare, energy and financial services industries. Across a range of advisory, consulting, outsourcing, and technology/analytics services, Navigant's practitioners bring sharp insight that pinpoints opportunities and delivers powerful results. More information about Navigant can be found at navigant.com. * The information contained in this press release concerning the report, Residential Customer Engagement, is a summary and reflects Navigant Research's current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report's conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.
View source version on businesswire.com: http://www.businesswire.com/news/home/20161021005027/en/ |
