London, United Kingdom, June 09, 2014 --(PR.com
)-- The 2 day seminar is aimed at the major utility sector for senior management and leaders who want to improve their customer retention and improve the customer experience for each and every customer with intention of turning them into loyal life time customers.
It is common knowledge in most industries that it costs between 5 to 7 times more to attract a new customer than to look after your existing customers and making sure they stay loyal to you at the end of their contractual period.
Some of the line-up of speakers who will be sharing their insights and expertise about customer retention and customer experience for the two days are from British Gas Gordon Morrison head of Retention, Scottish Power Madeline Linden, Tod Perry from E-on and Professor Dr Phil Klaus the world leading expert on customer experience from Brunel University and many more speakers, all with a common them on customer retention and customer experience.
The biggest trap the utility industry has got their selves into over the past years is known as the Commodity Trap as Moe Nawaz Strategic Director at Help Organisation Ltd puts it. "This has all come about by every utility company trying to fight for market share on the price comparison sites, for the consumer this is great as they can get the best possible prices for the services they require." Moe explains, "The commodity trap is killing the industry, instead of just trying to fight on price alone each company should be focusing on differentiating themselves by creating greater value for their customers. If you ask most of the leaders in any of say the electricity supply companies as to who is their target customer? Their beliefs are that anyone who has an electric meter with electricity supply. You need to be clear and understand your customers needs, wants and who they are far better than your competition."
Take a look at the John Lewis Partnership, they take pride in targeting the affluent customer and providing a customer experience which is one of the best in the UK, as their motto says, “Never Knowingly Undersold” in other words people are more than happy to pay the full market price provided the value they receive is greater than the asking price. So what value does each of these companies create for their customers that sets them apart? Very little, only price.
If you are fighting on price alone and prepared to take on any customer who has a ticking pulse that you can extract blood from them, it’s a wonder after their 12 months contractual agreement most customers are willing to run off with another supplier for a better price.
Two factors the utility companies should be focusing on, one who are they trying to target and what value can we create for that target audience so they don’t run off at the end of the 12 months contract. Most companies think the hard work is done once you have signed the customer up, wrong, this is where you should be focusing on looking after the needs of each customer to make them fall in love with you and the service you provide.
The seminar is on the 24th and 25th of June 2014 in Birmingham United Kingdom, for more details click the link http://www.customerexperienceutilities.com/
About Moe Nawaz: Strategic director at Help Organisation Ltd
and is a published author, speaker, strategic advisor and mentor to FTSE 100 leaders.
To find out more about Moe Nawaz simply visit www.moenawaz.com