Introduction
The recent 15% drop in customer retention for Octopus Energy's Octopus Go tariff is a concerning trend that requires immediate attention. To address this issue, I'll employ a systematic approach to identify, validate, and resolve the root cause while considering both short-term fixes and long-term strategic implications.
Framework overview
This analysis follows a structured approach covering issue identification, hypothesis generation, validation, and solution development.
Step 1
Clarifying Questions (3 minutes)
Why it matters: Seasonal changes can significantly impact energy consumption and customer behavior. Expected answer: The drop occurred during the summer months. Impact on approach: If confirmed, we'd need to investigate how seasonal changes affect the Octopus Go tariff's value proposition.
Why it matters: The Octopus Go tariff is designed for EV owners, so changes in this market could directly impact retention. Expected answer: There's been a surge in new EV models with longer ranges. Impact on approach: We'd need to examine how these new EVs might be changing charging behaviors and tariff needs.
Why it matters: Competitive pressure could be driving customers to switch providers. Expected answer: A major competitor launched a flexible EV tariff with additional perks. Impact on approach: We'd need to reassess our tariff's competitiveness and unique value proposition.
Why it matters: Internal changes could inadvertently be driving customers away. Expected answer: There was a small price increase and an update to the mobile app. Impact on approach: We'd need to analyze the impact of these changes on customer satisfaction and usage patterns.
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