Formed following deregulation of the Scottish water industry in 2008, Business Stream initially inherited it customer base, but with deregulation came the freedom for customers to switch suppliers. This presented Business Stream with the challenge of protecting its market share and the opportunity to attract business away from its competitors. The market is set to open up even further with the Water Bill legislating for the introduction of a UK-wide open market by 2017.
Using timely insights from web and social media to better engage
Business Stream started working with Artesian over 6 years ago to deliver a more productive method to better understand and respond to client’s individual demands and key developments.
“Retaining customers in a competitive market, where one act of bad service can lead a customer to switch to one of your competitors, is right at the top of our priority list. We need to ensure that our sales teams always have a reason to have a meaningful conversation with our customers, not just at annual renewal time, but all of the time.”
Sales and Contract Manager, Business Stream
Artesian delivered a customised solution that provided relevant and timely information, matched and personalised to each of its users – giving them the ability to track many combinations of topics across prospects, customers and competitors using up-to-the minute insights taken from the web and social media. Business Stream instantly saw the beneﬁts of always being up to date with real time customer information. The alert service ensures that the right news stories are intelligently categorised to look for sales triggers and reasons to engage, to land in user’s inboxes every morning. This insight gives Business Stream continuous opportunities to pick up the phone to customers and have meaningful conversations with them.
Business Stream increased Sales productivity by 30% with Artesian
“Setting aside time for research is a thing of the past for us”, says Simon. “Previously one of our Account Managers may have set aside every Friday afternoon for research. But what if a major news story affecting one of our customers broke on a Tuesday? We could already have missed the opportunity to have a discussion with them. Working with Artesian means our Account Managers can access information right up to the minute they step into a customer meeting. This has improved productivity within the business by around 30% – a fantastic result”. The fact that Business Stream has retained an unrivalled 90% of its customer base is testament to its success and ability to always stay one step ahead of the game.
Business Stream’s differentiator is its desire to not just sell its products and services, but to help business use their water and waste services as efﬁciently as possible. Something that they believe is enhanced immensely with the insight delivered by Artesian.
Business Stream improves customer satisfaction by 17% using Artesian
Business Stream has also improved its customer satisfaction score by 17% since it started working with Artesian. This can be directly attributed to the way in which Account Managers are using Artesian – not just having the right conversations with customers, but having the right conversations at the right time.
Business Stream is about to embark on the next stage of its journey, and is looking ahead to when the rest of the UK follows Scotland in opening up the water market to competition in 2017. “The Water Bill and a new UK wide open market is going to be a real game changer for us. Until now we have been all about retention, shifting the focus to acquisition is a massive culture shift for us, but we have the tools in place to achieve make this transition seamlessly”, says Simon. Business Stream now has a seamless method of customer service delivery and a sharp sales team who are world class when it comes to seeking out potential new markets and prospects in new geographies. “Artesian signiﬁcantly improves our business reaction times and this is something that will no doubt give us ﬁrst mover advantage as we extend our reach”, Simon concludes.