Why should companies focus resources and efforts on the onboarding phase?

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The Utility sector has several touchpoints and each of them represents an opportunity to build a stable and long-lasting company-customer relationship. One of the most crucial of these touchpoints is certainly the onboarding process, for a number of important reasons. To begin with, Philip Kotler's famous statement that it is much cheaper to retain a customer than to acquire a new one continues to remain more than valid. Even more so if, in the face of high marketing budgets spent on customer acquisition, there germany whatsapp resource is a lack of attention and care for details. In the case of an onboarding strewn with obstacles and friction, the customer experience will inevitably be poor and qualitatively unsatisfactory and this perception will influence the overall perception of the entire experience. In a cascade, the negative judgment developed during onboarding will undermine any possibility of building a relationship of trust and will jam the loyalty mechanisms to the point of making the final prospect of abandonment increasingly likely. Without a properly planned and executed onboarding process, the risk is to lose a customer already in the first days after signing up, a customer who could immediately start looking around, looking for more punctual, precise, transparent and reliable service providers.

Focusing resources and efforts on the onboarding phase is, ultimately, the most far-sighted move to gain a long-term competitive advantage.

How to evolve the customer onboarding process in utilities: modernizing communication
Digital transformation has proven to be a critical factor in increasing revenues and achieving greater efficiency, so much so that between 2020 and 2021, spending on digitalization in the sector increased from 30% to 38.4% . The decisive step that companies should take to improve customer onboarding in utilities is therefore to equip themselves with the most appropriate digital tools to achieve their objectives .

And it is not a strictly technical or technological issue: digitalization has brought about a profound change in production routines, in the methodologies adopted, in the entire cultural approach to process management. In particular, digitalization has played a central role in modernizing communication with users (both existing and new) by streamlining and speeding up customer support response. This transformation is made possible by the simplification of a set of data collection processes, known as KYC (Know Your Customer), which allows organizations (including banks, financial institutions, utilities) to confirm the identity of the people with whom they do business and to ensure that these entities are acting legally.