Timing is everything. Much of what sticks from utilities to consumers may have as much to do with when they engage customers, as with what utilities are actually saying. In the digital world, where consumers occupy the pole position for how technology gets used in business, it’s all about anytime, anywhere connectivity, typically over our mobile phones (there are more than 5 billion mobile phone subscriptions in the world with about 6 billion people on the planet!).
In a previous U-Blog
, we talked about four distinct energy packages consumers said they would buy, driven by their lifestyles and values, and influenced by a variety of factors such as geography, income, gender, and customers’ time and interest in managing their energy.
This begs another question: When are consumers most interested in learning about product and service bundles from their provider? We found that customers most want to hear about new products and services when:
- The utility is launching them (traditional go-to-market approach).
- The customer is moving into a new home.
- The customer’s electricity bill is higher than normal.
- The customer signs up for new service.
It is interesting to note that three out of four of these are customer-driven events that leave consumers open to things utilities might be waiting to offer. Something else stood out as well: marketing new products and services in combination with sending the bill was not the preferred method. Only about one-third of customers say they would want this, whereas close to half of the study’s 10,000 consumer participants
prefer the other methods.
Preferences also vary by age. Younger consumers—18 to 24 years old—want to know about new products and service the most when they have a major life event, such as buying a new home. Older customers, over 55, want to know about any new product or service whenever it comes out. You might assume that the seniors market segment would not want to be bothered but it turns out they want to know the latest as it happens!
In fact, lots of assumptions, technologies, and realities get turned on their head with the new energy consumer. For more insights, please read our latest report, Actionable Insights for The New Energy Consumer
. When and how has your utility had the most success connecting with customers?