The Strategic Advantage

Public Safety as a Strategic Advantage

Educating the public about safety prevents accidents, protects infrastructure, and saves lives. But there’s another valuable benefit: effective utility public safety programs deliver a strategic advantage in the marketplace. For instance, public safety drives customer satisfaction and improved customer satisfaction is directly linked to increased return on equity. Is your organization capitalizing on its public safety program to gain a strategic advantage?

Leverage the Link Between Public Outreach and Customer Satisfaction

In our research with electric and natural gas utilities, we consistently find satisfaction rates in the 80–90% range for customers who have received our utility safety outreach. While most utility companies can’t boast a customer satisfaction rate anywhere near the 90s, these numbers are within reach if you harness the power of outreach communications:

  • A recent JD Power study of 93 electric utilities serving nearly 12 million customers found that proactive communication improves customer satisfaction.
  • Another JD Power study found that a 10-point increase in customer satisfaction translates into a 0.04% increase in return on equity. The takeaway of the findings is that customer satisfaction investments may yield rewards as significant as capital investments.
  • A Market Strategies International (MSI) study was able to assign a monetary value to the trust a customer has in its utility. The survey reached 19,000 residential customers of the 125 largest natural gas, electric, and combination companies to measure brand trust, operational satisfaction, and product experience. For the top-performing “most trusted” companies in the MSI study, the value of their good relationship with customers was estimated at $8 billion dollars.

Best-in-class utilities now understand that this type of communication—outreach beyond compliance—is a really good idea. Safe business is smart business.

Use Public Safety as a Strategic Advantage

Culver Company develops public safety outreach programs that are strategically aligned with your company’s mission, vision, and values. We ensure that your public safety program’s strategy and tactics support corporate priorities and drive key performance indicators enterprise wide—from reducing incidents to raising brand awareness to increasing shareholder value. And we give you the numbers to prove it to all of your stakeholders, whether they're management, insurers, or regulators.

Demonstrate the Value of Public Safety to Your Stakeholders

By using public safety outreach strategically, you can link your efforts to customer satisfaction and the implications can be monetized enterprise-wide. 

If you’re interested in how utilities are demonstrating the return on your public safety investment, contact us today at strategicservices@culverco.com.  Our approach can be customized to deliver on your key performance indicators and corporate priorities.