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Webinar Slides: PQR Research: Improve Your Communications Strategy and Customer Satisfaction Score

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Your PQR score makes up more than a quarter of your JD Power customer satisfaction ratings. That significant PQR chunk is directly influenced by how your customers regard your company’s management of …

Your PQR score makes up more than a quarter of your JD Power customer satisfaction ratings. That significant PQR chunk is directly influenced by how your customers regard your company’s management of power quality and reliability, especially during outages. If you find yourself wondering when or how to communicate during an outage or service interruption, or if you’re concerned with reputation management, this webinar is for you. Access it by going to http://info.fgiresearch.com/pqr-research-webinar/

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  • 1. PQR Research for Utility Companies:Improve Your Communications Strategy and Customer Satisfaction Score February 2012
  • 2. Today’s speaker is Dino Fire, Director of Marketing Science at FGI Research → dfire@fgiresearch.com → 616-530-3220 Today’s hashtag: #pqrscore FGI on Twitter: @FGIResearch 2
  • 3. PQR Ratings…Who Cares?→ Regulators care!→ Legislators care!→ C-Suite managers at utilities care!→ Utility company employees care!→ The public cares…just ask JD Power! 3
  • 4. PQR’s Role in Customers’ Satisfaction→ Most utilities measure customer satisfaction overall, and power quality and reliability in particular. The two metrics are highly correlated.1→ PQR ratings comprise more than a quarter of the JD Power overall satisfaction index—no other single attribute has more influence. So…→ Utilities can improve customer satisfaction scores by improving satisfaction with power quality and reliability 1 Pearson’s 4 R correlation 0.707 based on previous FGI research
  • 5. FGI’s Process for Measuring and Impacting Satisfaction in Outage Situations 1. Identify and measure the factors that drive PQR satisfaction 2. Understand how PQR satisfaction is correlated to your customers’ satisfaction 3. Communicate your findings and get executive buy-in and approval 4. Take specific steps to improve your PQR results without investing billions in infrastructure 5. Measure how much you actually improve your PQR scores 6. Measure how much you actually improve your overall customer satisfaction scores 7. Communicate success! 8. Repeat for continuous improvement 5
  • 6. PQR Measurement: The Survey 6
  • 7. Respondent Profile → Sample = 3,228 interviews → Nationwide survey → 50 states + DC represented → 203 DMA’s → 267+ Electric utilities 7
  • 8. Methodology → Stated outage recall → Interaction with their electric company → Electric company performance → PQR satisfaction → Choice exercise…choose the “best” option √ Duration √ Frequency √ Time of Day √ Notifications → Recalculate PQR satisfaction based on outage scenarios 8
  • 9. Methodology From this set of four options, please pick the ONE that you would rather have take place. In other words, which one of the four options is least annoying to you? DURATION Less than 5 min 30 min – 1 hour 1 hour or more 5 – 15 minutes FREQUENCY Twice a year Once a year Twice a year 3 times a year TIME OF DAY Afternoon Middle/night Morning Evening NOTIFICATION Email Text Twitter/FB None 9
  • 10. Self-Reported Outage Information 10
  • 11. Residential Outage Frequency = 2.0 Outage in Past 90 Days outages per year Base: At least one outage in past year n = 3,228 Base: Total Sample Adjusted for outliers (>=7) n = 3,004 Q100. In the past year, on how many separate occasions did you lose power at your personal residence? 11 Q101. Have you experienced an electrical outage at your personal residence in the past 90 days?
  • 12. Outage Duration, Most Recent Occurrence 55 minutes Base: At least one outage in past year n = 2,567 Q102. These next few questions are about the most recent time you lost power at your residence. 12 Approximately how long was your power out on this most recent occasion?
  • 13. Residential Outage Actions Called Electric Company Provided Restoration Estimate 53% of those who called their electric company were provided a reason for the outage. Base: At least one outage in past year n = 2,567 Q103. Did you call your electric company to get information about when power might be restored? Q104. Did your electric company provide you with an estimated time power would be restored? 13 Q104A. Did your electric company provide you with a reason your power was out?
  • 14. Accuracy of the Restoration Estimate Actual restoration time was… Just about right Somewhat longer Somewhat shorter Much longer than estimated than estimated Much shorter than estimated than estimated Base: Provided restoration time for outage n = 645 Q105. Once power was restored, how accurate was your electric company’s estimate of restoration time? 14
  • 15. Notification 13% Received at least one notification Base: At least one outage in past year n = 2,567 Q106. Did you receive any of the following notifications from the electric company during the most recent power outage? For example, you may have received an email at a work email address, a text message on 15 your phone, or a Twitter or Facebook notification.
  • 16. PQR Satisfaction How would you rate your electric company on the quality and reliability of the electric power it provides? = 8.1 PQR Satisfaction Rating Base: Total sample n =3,228 Q200. Using a scale from 1 to 10, where 10 is excellent and 1 is terrible, how would you rate your electric 16 company on the quality and reliability of the electric power it provides?
  • 17. PQR Satisfaction Based on Outage No Outage PQR Satisfaction Rating No Outage = 8.6 n = 2,062 Had Outage = 7.3 n = 1,166 Outage The difference in means is statistically significant at the 95% confidence interval. Q200. Using a scale from 1 to 10, where 10 is excellent and 1 is terrible, how would you rate your electric 17 company on the quality and reliability of the electric power it provides?
  • 18. PQR Satisfaction Based on Notification Notification PQR Satisfaction Rating Notification = 7.8 n = 150 No Notification = 7.3 n = 1,016 No Notification Base: At least one outage in past 90 days The difference in means is n = 1,166 statistically significant at the 95% confidence interval. Q200. Using a scale from 1 to 10, where 10 is excellent and 1 is terrible, how would you rate your electric 18 company on the quality and reliability of the electric power it provides?
  • 19. Effects of Outage Variables Duration of outage (DURATION) Less than 5 minutes 5 to 15 minutes 15 to 30 minutes Less than 5 minutes 30 minutes to 1 hour 1 hour or longer Once a year Frequency of outages (FREQUENCY) Middle of the night Once a year Twice a year Any (ideal) notification Three times a year Four or more times a year Time of day when the outage occurs (TIME) Morning – before leaving for work or school Afternoon – before returning home from work or school Evening – between dinner time and before bed time Middle of the night 7.8 Average PQR satisfaction rating Notification about restoration time (NOTIFY) Email Automated phone call or message Text message Twitter or Facebook feed No notification Base: Total sample n = 3.228 19
  • 20. Importance of Outage Variables 20
  • 21. PQR Effects of Duration Duration Base: Total sample 21 n = 3.228
  • 22. PQR Effects of Frequency Frequency Duration Base: Total sample 22 n = 3.228
  • 23. PQR Effects of Time of Day Frequency Time of Day Duration Base: Total sample 23 n = 3.228
  • 24. PQR Effects of Notifications Notification Frequency Time of Day Duration Base: Total sample 24 n = 3.228
  • 25. www.fgiresearch.com/pqrsimulator 25
  • 26. Demographics Gender Pct Race/Ethnicity Pct Education Pct Male 35% Asian 3% Some high school 1% Female 65% American Indian 1% High school graduate 16% African American 5% Children in Household Pct Some college/trade 31% Hispanic 2% Yes 32% College graduate 31% White/Caucasian 88% No 69% Some post grad work 6% Other 1% Income Pct Employment Status Pct Post grad degree 15% Under $25,000 15% Employed – full time 44% Generation Pct $25,000 – $35,000 11% Employed – part time 14% $35,000 – $50,000 16% Seniors 11% Not currently 22% $50,000 – $75,000 23% employed Baby Boomers 44% $75,000 – $100,000 16% Retired 21% Generation X 33% $100,000 – $150,000 12% Home Ownership Pct Millennials 12% $150,000 – $200,000 3% Own 78% Over $200,000 3% Rent 22% 26
  • 27. Q&A→ dfire@fgiresearch.com→ cdall@fgiresearch.com→ FGI on Twitter: @FGIResearch→ www.fgiresearch.com→ Our blog: info.fgiresearch.com/blog 27

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