4 Tips to Acquire New Energy Customers in a Deregulated Energy Market

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17MILLION The deregulated utilities industry is worth over $210 Billion consumers & Most Large Businesses shop Around for electricity PRICE PERSONALIZED ADVICE ON THEIR ENERGY CONSUMPTION INNOVATIVE PRODUCTS & SERVICES CONVENIENT FEATURES THEY CARE ABOUT TO COMPETE FOR THESE CONSUMERS, ENERGY SUPPLIERS NEED TO USE DATA AND ANALYTICS IN INNOVATIVE WAYS. TARGET NEW & PRE-MOVERS REACH OUT TO PRE-MOVERS BY USING A DATA PROVIDER WITH A LIST OF HOMES UNDER CONTRACT. IT’S IMPORTANT TO MAKE CONTACT BEFORE YOUR COMPETITION DOES. MARKET DURING THE CRITICAL1-6 WEEK WINDOW BEFORE A MOVER LEAVES THEIR CURRENT HOME. THIS IS WHEN MOST ARE MAKING 70-90% OF THEIR PROVIDER DECISIONS. SEGMENT YOUR PROSPECTS APPEND DEMOGRAPHIC AND LIFESTYLE DATA SETS TO GAIN A 360 O VIEW OF THE CONSUMER. IN ORDER FOR MESSAGING TO BE SUCCESSFUL IT MUST BE RELEVANT AND PERSONALIZED. USE TARGETED ANALYSIS TO PREDICT WHICH SEGMENTS ARE MOST LIKELY TO PARTICIPATE IN PROGRAMS AND SERVICES- OR DEVELOP NEW PROGRAMS TO FILL DISCOVERED SERVICE GAPS. FOR EXAMPLE HOUSEHOLDS WITH ELEMENTARY AGE CHILDREN ARE 10-20% MORE LIKELY TO HAVE GREEN SENTIMENTS WOMEN ARE 6-10% MORE LIKELY TO ENGAGE IN ENERGY-SAVING BEHAVIOR THAN MEN GO MOBILE SAY THAT RECEIVING MOBILE NOTIFICATIONS FOR BILL PAYMENTS WOULD MAKE THEM VIEW THEIR SERVICE PROVIDER IN A MORE POSITIVE LIGHT. SAY THEY USE THEIR PHONE TO PAY AT LEAST ONE BILL SAY ITS IMPORTANT TO BE ABLE TO PAY THEIR UTILITY BILL FROM THEIR MOBILE DEVICE UTILITIES CONSUMERS ADDRESS ISSUES VIA Energy central found that 42% web chat Mobile apps, sites, and self service 59% 35% Mobile live chat & Text GET SOCIAL UTILITIES COMPANIES CAN USE SOCIAL MEDIA TO improve customer service by watching social channels for reports of outages and responding accordingly Monitor customer feedback and respond in a timely manner to improve brand experience engage customers by posting educational content such as energy saving tips and bill pay options. As the market faces continued deregulation, energy marketers must use rich data and analytics to create better, more personalized experiences and offer the programs their customers seek. Utilities that embrace the evolving market and revamp their business models will maintain their position in the value chain. Learn more about data solutions for utilities providers at www.datamentors.com. Sources: 1. Accenture - The New Energy Consumer, Unleashing Business Value in a Digital World 2. Energy Central - 6 Undeniable Reasons Why Utilities Must Think Digital for Customer Engagement 3. McKinsey & Company - Using a consumer-segmentation approach to make energy-efficiency gains in the residential market 4. The Northeast Group - US Utility Customer Engagement Benchmark: Social Media & Mobile Apps 5. Rapore, Official Mover Savings Guide 4 2 1 3 5

Transcript of 4 Tips to Acquire New Energy Customers in a Deregulated Energy Market

Page 1: 4 Tips to Acquire New Energy Customers in a Deregulated Energy Market

17MILLION

The deregulated utilities industry is worth over

$210 Billionconsumers & Most Large Businessesshop Around for electricity

PRICE PERSONALIZED ADVICE ON THEIR ENERGY CONSUMPTION

INNOVATIVE PRODUCTS& SERVICES

CONVENIENT FEATURES

THEY CARE ABOUT

TO COMPETE FOR THESE CONSUMERS, ENERGY SUPPLIERS NEED TO USE DATA AND ANALYTICS

IN INNOVATIVE WAYS.

TARGET NEW & PRE-MOVERS

REACH OUT TO PRE-MOVERS BY USING A DATA PROVIDER WITH A LIST OF HOMES UNDER CONTRACT. IT’S IMPORTANT TO MAKE CONTACT BEFORE YOUR COMPETITION DOES.

MARKET DURING THE CRITICAL1-6 WEEK WINDOW BEFORE A MOVER LEAVES THEIR CURRENT HOME. THIS IS WHEN MOST ARE MAKING 70-90% OF THEIR PROVIDER DECISIONS.

SEGMENT YOUR PROSPECTS

APPEND DEMOGRAPHIC AND LIFESTYLE DATA SETS TO GAIN A 360O VIEW OF THE CONSUMER. IN

ORDER FOR MESSAGING TO BE SUCCESSFUL IT MUST BE RELEVANT AND PERSONALIZED.

USE TARGETED ANALYSIS TO PREDICT WHICH SEGMENTS ARE MOST LIKELY TO PARTICIPATE IN PROGRAMS AND SERVICES- OR DEVELOP NEW

PROGRAMS TO FILL DISCOVERED SERVICE GAPS.

FOR EXAMPLE

HOUSEHOLDS WITH ELEMENTARY AGE CHILDREN ARE 10-20% MORE LIKELY TO HAVE GREEN SENTIMENTS

WOMEN ARE 6-10% MORE LIKELY TO ENGAGE IN ENERGY-SAVING BEHAVIOR THAN MEN

GO MOBILE

SAY THAT RECEIVING MOBILE NOTIFICATIONS FOR BILL PAYMENTS WOULD MAKE THEM VIEW THEIR SERVICE PROVIDER IN A MORE POSITIVE LIGHT.

SAY THEY USE THEIR PHONE TO PAY AT LEAST ONE BILL

SAY ITS IMPORTANT TO BE ABLE TO PAY THEIR UTILITY BILL FROM THEIR MOBILE DEVICE

UTILITIES CONSUMERS ADDRESS ISSUES VIA Energy central found that

42%

web chatMobile apps, sites, and self service

59%35%

Mobile live chat & Text

GET SOCIAL

UTILITIES COMPANIES CAN USE SOCIAL MEDIA TO

improve customer service by watching social channels for reports of outages and responding accordingly

Monitor customer feedback and respond in a timely manner to improve brand experience

engage customers by posting educational content such as energy saving tips and bill pay options.

As the market faces continued deregulation, energy marketers must use rich data and analytics to create better, more personalized experiences and o�er the

programs their customers seek. Utilities that embrace the evolving market and revamp their business

models will maintain their position in the value chain.

Learn more about data solutions for utilities providers at www.datamentors.com.

Sources:

1. Accenture - The New Energy Consumer, Unleashing Business Value in a Digital World

2. Energy Central - 6 Undeniable Reasons Why Utilities Must Think Digital for Customer Engagement

3. McKinsey & Company - Using a consumer-segmentation approach to make energy-e�ciency gains in the residential market

4. The Northeast Group - US Utility Customer Engagement Benchmark: Social Media & Mobile Apps

5. Rapore, O�cial Mover Savings Guide

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