The Power of Colour: How Decisioning and Analytics Brings Colourful Customer Centricity to Utilities

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Discover how utility companies can treat each customer as an individual, using their history and context to predict the Next-Best-Action that will satisfy their individual needs while achieving business objectives.

Learn more about Pega Solutions for Utilities: http://www.pega.com/solutions/by-industry/energy/utility-industry-solutions

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The Power of Colour: How Decisioning and Analytics Brings Colourful Customer Centricity to Utilities

  1. 1. How Decisioning and Analytics Brings Colourful Customer Centricity to Your Businesses MR AND MRS AVERAGE A black and white approach What does an average customer look like? Many utility companies segment their consumer customer bases using dimensions such as socio-demographic factors, LTV, contract life stages, marketing-defined customer types, and so on. Utility companies try to make the best matches for propositions and service offerings to those segments so that they can increase revenue and maintain or improve market position against a rapidly changing landscape of competitors and consumer value perception. However, dealing with averages means that they are unable to really answer questions about their customers such as: Which ones are the most profitable? Which ones will accept their offers? It also means that they have to define and implement average customer processes and actions because they cannot be sure to match marketing, sales or customer service action against a specific customer’s needs. Find the right type of customers and offer them the most relevant and attractive offers. As more data is analysed look at margins for each product and service for each customer, choose the best channels. Take proactive actions and apply differentiated strategies to mitigate the risks of a customer entering the collections cycle. Take preemptive and proactive actions to retain the most valuable customers and extend the customer's lifetime value. CAMPAIGN BASED APPROACH WHICH CUSTOMERS ARE MOST PROFITABLE? UTILITY COMPANIES ACHIEVE AVERAGE RESULTS AT BEST, WHICH ARE FAR FROM WHAT THEY NEED IN ORDER TO MEET THE EXPECTATIONS OF THEIR SHAREHOLDERS AND THE MARKET IN GENERAL. Each customer is an individual Instead of using averages and broad segmentation to guess the best actions and offers for customers – the equivalent of seeing customers in just black and white. TREAT EACH CUSTOMER AS AN INDIVIDUAL. USE CUSTOMER HISTORY AND CONTEXT TO PREDICT NEXT-BEST-ACTION. Using predictive and adaptive analytics and sophisticated decision management, utility companies can treat each customer as an individual, using their history and context to predict the Next-Best-Action that will satisfy their individual needs while achieving business objectives. NEXT-BEST-ACTION OFFERS YOU CAN VISUALISE YOUR CUSTOMER PROCESSES TO MAKE THEM MORE SPECIFIC, MORE RELEVANT, MORE PROACTIVE AND MORE EFFECTIVE FOR THE INDIVIDUAL CUSTOMER. A LIFETIME OF INSTANCES To derive the maximum value from understanding the nuances of each customer, you need the ability to apply colour to all your customer processes, all of the time and across the full customer lifecycle. WITH PEGA'S COLOUR ENGINE, YOU CAN PAINT VIBRANT CUSTOMER INTERACTIONS WITH EACH AND EVERY CUSTOMER, WITH EVERY OFFER, ACROSS EVERY CHANNEL AND IN EVERY CIRCUMSTANCE. Pega Colour Engine Pega’s unique Next-Best-Action Marketing allows our utility clients to deliver colourful customer centricity to their businesses. It enables them to use the vast volumes of customer data that they already have to use the uniqueness of each customer to their advantage. Our clients are able to apply customer colour in real time to each customer interaction to make the conversation meaningful, relevant and within the context. Our clients use Pega Next-Best-Action Marketing to add colour to each action within unified processes that deliver on their promises. They apply colour to processes across any channel, across the silos of back-offices operations, in real time and over time. They deliver consistent and coherent user experiences through inbound and outbound communications, through traditional channels (phone, retail, mail) and new channels (social media, mobile, interactive TV, etc.) Most importantly, they deliver seamless execution by making the right promises in the front office while automating fulfilment in the back office. WANT TO KNOW MORE? WWW.PEGA.COM Pegasystems revolutionises how leading organisations optimise customer experience and automate operations. Our patented Build for Change® technology empowers business people to create and evolve their critical business systems. Pegasystems is the recognized leader in business process management and is also ranked as a leader in customer relationship management software by leading industry analysts. For more information, please visit us at www.pega.com. ABOUT PEGASYSTEMS Customer Acquisition: ANALYTICS for Targeted Offers ANALYTICS for Differentiated Customer Service ANALYTICS for X-Sell and Up-Sell ANALYTICS for Risk Mitigation ANALYTICS for Customer Churn Customer Optimisation: Customer Value Growth: Customer Risk: Customer Retention: 3 1 THE OUTCOME? 2 VIEW EACH CUSTOMER IN VIVID COLOURS. JUST WHAT I NEED! PERFECT! THANK YOU! OFFER 1 OFFER 2 OFFER 3 WHICH CUSTOMERS WILL ACCEPT OFFERS? INCONSISTENT CUSTOMER SERVICE POOR CONVERSION RATES HIGH CHURN UNHAPPY CUSTOMERS PLEASE HOLD... THE POWER OF CUSTOMER INTERESTS COME IN LOTS OF COLOURS SMART METER BETTER INSURANCE BETTER TARIFF As you gain the customer's trust, increase cross-selling and up-selling, but only with relevant offers delivered at the right time.

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