Competition for customers is stiff in the $210 billion deregulated energy industry. Even with the enormous economic and social impact of the U.S. power industry, it can be challenging to find and keep customers. No longer a regulated monopoly, energy companies find themselves in a highly competitive environment. In turn, energy users are seeking the supplier that best fits their needs. Luckily for users, pricing structures and package plans are competitive due to the deregulation.
That’s the easy part.
Winning customers over is the tough part. It’s a constant struggle for deregulated energy companies. In most deregulated markets, several companies are competing for and targeting the same audience, day after day.
So how do you make your company stand out in the crowd?
The answer to this question takes a little forward thinking. To be a smart, savvy energy marketer, you must consider options that go beyond pricing plans, graphic design, and Calls To Action. Take a step back and consider the data you’re using.
1) How accurate are the names, addresses, and telephone numbers you’re receiving?
Your contact list is the backbone of your campaign. Often times, the records you receive from the utilities are incomplete and inaccurate. You’ll need to clean up these lists before they are of any true value to you, otherwise you’ll be sending your sales reps on a wild-goose chase, wasting THEIR time and YOUR marketing dollars. If you apply a few simple hygiene services to your files such as USPS standardization, NCOA Zip Code correction, and Do Not Call suppression, you’ll see a dramatic improvement to your response rates – and reduce the frustration level of your sales team!
2) Do you have gaps in your data?
Not only should you fill in your contact detail gaps, but also appending other pertinent information such as telephone numbers, property data, life events, and demographics can make segmenting your customer lists much easier. Targeting the right audience with the most relevant message is crucial. By adding consumer and business attributes to your residential and commercials files, you’ll have a more robust view of customer and prospecting lists. Use this intelligence to choose which channels (direct mail, telemarketing, door-to-door, email, etc.) best fit a particular audience. You can also use this intelligence to determine which channels to target based on acquisition costs. Add details such as age, telephone number, estimated income, modeled credit, dwelling type, market value, square footage, SIC/NAICS Codes, and more!
3) Do you have access to the most current lists of potential new customers?
Have you ever thought, “It would be great if I could access an entire list of customers who are looking for a new energy supplier?” New Movers, New Homeowners, and New Connects files are available! This type of hotline data compiles information on individuals that have recently moved or purchased a new home. These households are typically actively looking for providers, thus making them a prime (and very receptive!) audience for you.
4) Are you targeting the right territories?
Create custom marketing footprints by geo-coding your files. Intersect your prospect data with specific territorial addresses to target the most effective territories in your supply area. After geo-coding, you can even suppress customer records by Zip Code. Suppression services prevent undesirable records from being included in your next campaign. Other suppression services can include detecting individuals who subscribe to the DMA’s Do Not Mail program, are on the Do Not Call List, are deceased, are in prison, or are under the age of 18. Additionally, customer file suppressions are available to suppress your existing house file from your prospecting list to avoid receiving records you already own.
Using the nation’s largest database, AccuData Integrated Marketing can scrub your customer files clean, correct contact information, and append demographic and property data to your files. Doing so ensures not only an accurate list for your marketing initiatives but also a powerful way to segment your audience to achieve maximum resonance and response in the deregulated energy space.
Want more info? Contact us today!