Horizontal CRM is dead. All hail energy-specific CXM!

The evolving energy service model and its implications for utilities

If the world is to stay the course of the decarbonization targets it aspires to, the way we produce, distribute and consume energy is set to change profoundly over the next two decades.

To be the fulcrum of this transition while fostering growth and value for their stakeholders, utilities and energy suppliers have a duty to pivot away from the pure commodity business model of the past two centuries. This implies expanding their product and service portfolios and empowering consumers with sustainable solutions for decarbonization, electrification and efficiency.

For this transformation to scale, utilities must not only be able to innovate commercially but also digitally transform revenue and customer operations.

Key takeaways:

The utilities’ journey towards mastering the multi-service model, customer engagement and operational efficiency is supported by a busy investment agenda. This has recently focused on fixing the basics to deliver a more efficient service and better CX and is now shifting towards enabling the multi-service energy advisor model
Half of utilities have invested or are investing in an integrated platform supporting CX and back-office processes. This is more visible in competitive markets, where modern CX and well-functioning customer operations are business-critical
At the same time, 60% of energy utilities seek preconfigured industry-specific CXM, combining energy CX, engagement and multi-service orchestration, to become the gravity center of the new, expanded business

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Horizontal CRM is dead. All hail energy-specific CXM!

The evolving energy service model and its implications for utilities

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