Deciding to invest in customer research, though philosophically compelling, can be a wasted, expensive experience. We’ve learned from our clients that the decision to commit funds and resources to research projects often comes with a host of concerns. Here are five concerns utilities often have about investing in research and practical tips on addressing them.

1. Cost vs. Benefit

Concern: The potential return on investment (ROI) from research can often seem uncertain, leading utilities to hesitate in allocating budget towards it.

What to Do: Define clear objectives for the research to ensure that outcomes are measurable and align with business goals. At UtilityPULSE, we work hard to ensure that we understand the purpose and goals of any research project. We believe that research is an expense when not done well but an investment when it is done well.

2. Relevance of Data

Concern: There’s a prevalent fear that the data collected might not apply to current business challenges or too generic to provide actionable insights.

What to Do: Work closely with your chosen research firm to customize the research process. This includes formulating specific questions that directly address your research goals. At UtilityPULSE, we will tailor the research to your needs, increasing the data’s relevance and applicability.

3. Time and Resources

Concern: Research projects can be lengthy and may require significant internal resources, which can deter a utility from initiating them.

What to Do: Opt for research firms that offer scalable solutions or start with a small-scale pilot study to assess the impact without a full commitment. At UtilityPULSE, we employ various tools for collecting information and feedback. As important, we always remain mindful of a respondent’s needs for clarity of question, e.g., absence of jargon and simplicity of answer scales. We also, after 25+ years of experience with Utilities, can support your internal resources.

4. Overwhelming Data

Concern: The sheer amount of data generated from research activities can be daunting, and Utilities often struggle to translate this data into actionable insights.

What to Do: Select a research partner that not only gathers data but also provides clear analysis and recommendations. At UtilityPULSE, we believe that any company can produce data and charts, but we focus on the utility sector, which means we can and do provide context with the data. We also believe that data is simply data. It is the conversations that people have about the information received is what is important. Hence, we primarily focus on the utility sector to assist in simplifying reports.

5. Fear of Negative Feedback

Concern: Unearthing negative feedback during the research process can be concerning, as it may indicate underlying issues within the utility. Or may have data that negates a senior executive’s viewpoint.

What to Do: Embrace the process with an open mind and view any negative feedback as a constructive avenue for improvement. Choose research partners who can place negative insights within the broader context of industry trends and offer strategic recommendations to address these challenges. At UtilityPULSE, we are experienced utility industry researchers who understand many of the challenges of running a successful utility and can provide context to the data. We can often provide additional supporting data not found in the research.

Understanding and addressing these five concerns can significantly enhance your confidence in investing in customer research. Each step forward with research is a step towards more profound insights into your customer base, which, in turn, helps you determine policy changes, process improvements, and investments in customer care technology & tools.

At UtilityPULSE, we believe that research, when done well, supports your efforts to improve service and reduce costs.

Let’s Connect to discuss your research needs.