Mark Wilkinson is senior vice president of products at ibex Digital.
Online marketplaces used by utilities to offer energy-saving products like LED lightbulbs and smart thermostats have delivered a lot of benefits over the past 10 years, for the utilities and their customers. They’ve raised awareness of energy efficiency and sustainability, introduced new energy-saving technologies and made it easier for customers to learn about and redeem rebates.
But as technologies like LED bulbs and smart thermostats have become commonplace, sales at those marketplaces have slowed and traffic has dropped. The websites still provide a good means for utilities to interact with their customers. But there is so much more they can do — if they get a thorough review and a reboot to provide consumers with what they want now.
If you’re a utility with an online marketplace that’s seeing a slowdown in interest, try these ideas to revitalize your site and bring your customers back.
Think outside the bulb
LED bulbs and smart thermostats deserved prime placement when those devices were new — but those days have passed. Consumers now want the next generation of sustainability products, so think about updating your marketplace with offerings like EV chargers, home energy management systems and efficiency solutions for home offices to help today’s remote workers.
Your customers now spend more time at home than they did before the pandemic, so you can pique their interest with tips and products that make it easy for them to be more comfortable and efficient in the home environment.
Make it mobile
You know your online marketplace very well, perhaps a bit too well. Your customers may be seeing it for the first time, so it’s time to take a look at it again with fresh eyes. Does it seem a little tired? Most importantly, does the site function well on a smartphone or tablet? More than 70% of visits to utility marketplaces happen from a mobile device, so your marketplace must be optimized for mobile.
If you run your marketplace with a platform partner, that partner should be refreshing your marketplace with mobile-oriented updates on a regular basis. If you’re using e-commerce tools you developed yourself, talk with your CX group about ways to make your site work best on mobile devices. Focus on bold, basic images, a simple, functional design and user-friendly search and navigation so mobile visitors can find their way around easily.
Get personal
The original marketplaces launched when most consumers were relatively new to energy efficiency. LED bulbs and smart thermostats were just entering the market. So, a one-for-all strategy of engagement functioned just fine. But customers now have more sophisticated expectations from a website. To meet their expectations, your marketplace should engage with customers on a more personal level.
Map out specific customer needs and niches and focus on them. For example, if you’re in a seasonal climate, you’ll have a lot of customers with HVAC systems. Offer a deal on filter-replacement to boost their HVAC efficiency in the months before summer or winter. No doubt a lot of your customers are renters. When the anniversary of their billing start date approaches — which is a time when they might be considering a move — offer them assistance with switching their service to a new address. Look at vehicle registrations in your region to identify those customers who have an EV and offer them EV charging products.
And don’t forget about “aging in place” customers. They may need help with repairs or upgrades from local contractors. Or they may need a more flexible plan from your utility so they can stay in their home longer. This sort of personalization can really enhance the effectiveness of your customer-outreach efforts.
Be social
A growing number of people use social media search to find what they want on the internet, including your marketplace. Did you know more than half of customers between the ages 16 and 24 use social media search functions rather than search engines like Google to find utility marketplaces? Email is still the best channel for online engagement but social media is the best channel for reaching younger people and informing them of your products and offers.
You can attract attention to your marketplace by posting photos and short videos at social media platforms. Post on Facebook, TikTok, X (Twitter), Instagram, YouTube and Pinterest to reach your full demographic base. Some 73% of Americans aged 35 to 54 use Facebook and over 56% of Americans aged 35 to 55+ use Pinterest. Millennials use a variety of channels, including Facebook (87%), Instagram (72%) and YouTube (66%). Gen Z favors YouTube (80%), Instagram (75%), TikTok (69%) and Snapchat (63%).
Offer solutions
Customers don’t just want products; they want solutions. For example, owners of electric vehicles don’t just want an EV charger, they want a charger that’s smart and will switch on when electricity rates are off-peak, so they can realize the full value of owning an EV.
To give customers the solutions they want, offer bundles in addition to individual products. Bundle an EV charger with installation by a professional with registration of the charger in a time-of-use rate plan. That’s a solution, a full-spectrum package that customers can only get from your online marketplace. And solutions like that will keep customers coming back.
Another example: bundle enrollment in demand-response with smart thermostats or a home energy management system. Add a warranty for future repairs to new appliances or EV chargers. Allow customers to enroll anytime in a new rate plan that better suits new purchases they make. This creates better value for customers and better customer satisfaction for you.
Put it all together
The best utility marketplaces do everything. They provide products and services that appeal to all customers, they share information on new utility programs and features, and they’re interesting enough to engage with people in every age group. All in all, they give customers more comfort, convenience and efficiency in their homes and, by doing so, they show that you appreciate your customers and are eager to offer support that extends far beyond the meter.
With an optimal online marketplace, you’ll increase your reach, build your traffic, boost enrollment in your marketplace and enhance customer satisfaction and loyalty. So if it’s not already on your agenda, you should plan a full refresh of your marketplace in 2024.
