Understanding how your utility measures up against industry benchmarks is essential for enhancing operations, improving customer satisfaction, and driving growth. Here’s a sneak peek at some key performance metrics:
Key Highlights from the Industry Benchmarks
Paperless Billing Programs
- Average Enrollment: Only 20-30% of utility customers are enrolled in paperless billing, meaning most customers still receive printed bills by mail.
- Retention Success: Paperless billing programs have a 90% year-over-year retention rate, showcasing their value in reducing churn and operational costs.
Call Center Metrics
- Call Volume: Utilities average 1.1 to 1.4 calls per customer annually. This impacts customer satisfaction (CSAT) scores, staffing requirements, and customer service tool budgets.
Insight: Reducing call volume through better digital tools and proactive communication can significantly enhance CSAT and lower costs.
Collections Performance
- Behind on Bill: Staying proactive in helping customers avoid getting behind on payments is key to maintaining low delinquency rates and financial stability.
Pro tip: Using data and predictive analytics can support early intervention strategies.
Curious to See the Full Benchmark Report?
These highlights are just the beginning. The full report dives deeper into:
- Advanced insights on customer digital adoption and retention strategies.
- Actionable data on improving collections and operational efficiencies.
- Benchmarking tools to assess how your utility compares to industry leaders.
📊 Download the full benchmark report today and discover opportunities to improve performance, satisfaction, and cost savings.
