There is a future in paying utility bills on the internet

There is a future in paying utility bills on the internet

The Internet-savvy, transaction-driven, financial services industry has much to teach the energy industry about effectively serving customers online. Financial firms have learned how to get their customers to use the web and keep them happy and loyal. Energy companies could copy their approach and net the same results. Most have not.

Research by Gómez, Inc. (Waltham, Massachusetts.) reveals that many consumers now want to manage their energy accounts and pay their bills online, but also that their expectations of the experience have been elevated by leading financial services firms, travel agents, and retailers. As a result, many customers visit an energy Web site with preconceived notions about its levels of functionality, speed, and availability. However, customers are often disappointed when they arrive because many utility sites fall well short in those categories.

Gómez suggests that energy companies analyze the growing pains and gains made by financial service companies for relevant illustrations of best online practices. Utilities can do this by first creating a functionality matrix focused on high-value online tasks. They must then measure the speed and reliability of these tasks and-using the matrix-evaluate those performance metrics against online consumer behavior to help prioritize investments for generating the highest returns.