The benchmark permits a highly refined and detailed comparison of costs related to the sales and service functions. The sales-related components it tracks include:
- Strategy formulation and steering
- Pricing and portfolio development and management
- Customer acquisition
- Customer retention and insight development
- Marketing and communication
The service-related variables it examines include:
- Energy logistics, including interactions with grid operators
- Customer contact
The benchmark also goes beyond costs. It permits comparison of a number of key sales and service considerations, including such things as the percentage of calls answered within 20 seconds, the percentage of invoices sent electronically, and the breakdown of types of contact with customers, including the percentage of contacts made digitally. This can help an energy retailer understand its relative standing on the digitization journey.
BCG’s considerable experience in the industry allows it to supplement the benchmarking with a discussion of best practices and guidance on how to close cost or performance gaps where they exist. A retailer thus knows what it needs to do to take itself to the next level.
An energy retailer seeking to leverage the benchmark can gather the information BCG needs through an easily understood template. And the benchmark’s team is readily accessible and happy to answer any questions during the data collection process.
BCG’s energy sales and service benchmark is a highly valuable resource for retailers. It permits a retailer a single-source, detailed, apples-to-apples look (including access to data that is not publicly available) at a relevant universe of peers at a time of substantial industry flux.