Their consistently superior operational efficiency and resulting cost savings led to a very successful IPO. Not willing to rest on their success, they decided to focus on their next hurdle: being the market leader of customer experience. But first, they had to define their terms. What does it mean to be a customer-centric utility?
American Water called on ENGINE to help them answer that question. The first step was to talk with leaders recognized for delivering a great customer experience in regulated and de-regulated industries. The second step was to design and deploy a benchmark with a best in class competitive set, custom-tailored to American Water’s needs.rnrnThis culminated in re-establishing a broader, integrated customer feedback system aligned with internal business strategy, tactical initiatives, KPIs and investments.
Clear priorities of focus were identified to address vulnerabilities, opportunities and strengths relative to best in class organizations. This ecosystem of intelligence connected the brand promise with the actual delivery of products and services and revealed opportunities for an aggressive digital strategy.
American Water continues to reap the benefits of having one the best customer experiences among any publicly held utility today. The goals are clear and reinforced through rewards and recognition such as incentive compensation and career opportunities. Furthermore, the ever-evolving equity in the brand fosters opportunity for the future expansion of the business.
The true testament of success is the stock price, which has more than doubled in the last five years.