Utility-provided products and services can help large business customers reach their energy-savings goals and generate revenue for the utility. The products and services that most large business customers are interested in purchasing or participating in are:
- Power monitoring
- Preventive maintenance diagnostic services
- Energy management control systems
However, according to our 2019 survey, outdoor lighting installation, energy management control systems, and backup generators are the products and services that large business customers most commonly purchase or participate in.
Fifty percent of large business customers are interested in power monitoring services offered through their utility, but only 33% of large business customers have participated in the offering (figure 1). Utilities need to figure out how to bridge the gap between interest and participation for other revenue-generating products and services.
You can improve participation rates in revenue-generating products and services by:
- Empowering your account reps to provide customized recommendations for utility-provided products and services that match your customers’ interests.
- Making the process easy for customers and starting with straightforward programs. Start with something simple, like lighting programs, to build customer confidence in your service and reliability. Then introduce more-detailed products and services, like power monitoring.
- Using information learned from in-person account rep visits and improving communication and marketing efforts. This will help to build trust with the customer, strengthening your recommendations.
- Using email marketing with actionable and timely information about products and services that are relevant to large business customers and are customizable to their needs.
You can help large business customers save energy and money and improve your relationship with them by offering products and services they want and customizing the offerings to your customers’ needs.
If you’re curious about the utility-provided revenue-generating products and services that small and midsize business customers are interested in, check out the data snapshot Give them what they want: SMB customers are interested in saving energy through their utility.
For more information about the Business Customer Satisfaction Study or this data, call us at 1-800-ESOURCE (1-800-376-8723) or email us.