Loyalty for Sale. ICF Energy Efficiency Products Workshop Detroit, Michigan

Transcription

1 Building Customer Relationships One Purchase at a Time August 2, 2017 ICF Energy Efficiency Products Workshop Detroit, Michigan Laura Orfanedes Principal, Energy Marketing; Innovation & Customer Engagement

2 E V O L U T I O N of Ecommerce in Energy Efficiency Presentation Title 8/10/2017 2

3 What Customers Want from Their Utility for Energy-Related Products and Services Percentage of Customers Interested If Offered by Their Utility Products and materials to make simple energy-saving improvements (66%) Home energy generation products (62%) Home audits/consultations to identify ways to save (61%) Installation and/or maintenance services for home energy devices (60%) Warranty and/or financing plans for home energy devices (56%) MASELLA, TONY. "THE NEW ENERGY CONSUMER: UNLEASHING BUSINESS VALUE IN A DIGITAL WORLD." ACCENTURE, ACCENTURE-NEW-ENERGY-CONSUMER-FINAL.PDF. 8/10/2017 3

4 Utility Product Marketplaces Today Still early stage in development for EE industry Place utility within the customer product journey Include a product mix comprised mostly of EE products Served by a fragmented and complex vendor landscape Show great opportunity for improvement 8/10/2017 4

5 DTE Marketplace A TOUCHPOINT TO BUILD ENGAGEMENT, DRIVE UPTAKE OF EE PRODUCTS, DELIVER SATISFACTION, AND BUILD TRUST WITH CUSTOMERS 8/10/2017 5

6 DTE Marketplace Today DRIVE PURCHASE OF ENERGY EFFICIENT PRODUCTS Launched April 17, product categories, 15 products Product mix includes: Smart Thermostats Lighting Outlets and APSs Water Saving Products 8/10/2017 6

7 DTE Marketplace Shopping Tools APPLIANCE COMPARISON TOOLS TO HELP CUSTOMERS CHOOSE THE RIGHT PRODUCTS FOR THEIR NEEDS 8/10/2017 7

8 8/10/2017 8

9 DTE Marketplace Customer Awareness and Acquisition 8/10/

10 DTE Marketplace Tomorrow CENTRAL ENGAGEMENT HUB SERVING VARIETY OF PRODUCT NEEDS Measure and Optimize Marketing Strategies Boost Revenue Generation Expand Product Offerings Explore Loyalty and Rewards 8/10/

11 BEST PRACTICES Implement Customer Acquisition Strategies Avoid a build it, they will come mentally Employ targeted marketing to drive traffic to site Focus on Customer Retention Meet customer expectations for experience and promotions Drive repeat purchases Maximize Customer Lifetime Value (CLV) Optimize and win during the repurchase window Leverage loyalty and rewards to build customer relationship and loyalty and maximize CLV 8/10/

12 Digital Impacts to Watch for On The Road to Best Practices Mobile apps are changing consumer/retailer relationships Retailers are more on consumers' minds Personalized customer experience is growing Consumers want convenience of faster delivery, lower prices 8/10/

13 Acquiring Customers Through Marketing Customer Launch Deployed June, 2017 Metrics s Delivered: 36K Open Rate: 39.4% Click Through Rate: 6% Overall Results: Conversion Rates increased.7% Website Visits Rates increased 113.6% Post Orders 1 st week post-campaign: 31 orders (1.8% conversion rate) 2 nd week post-campaign: 94 orders (2.5% conversion rate) Website Visits increased by 113.6% Conversion rates increased by.7% 8/10/

14 Retaining Customers by Meeting Their Expectations Post Purchase Product Education Responsive Design & Mobile Apps Personalized Marketing: Cart Abandon, Exclusive Offers 8/10/

15 Source: IBM Marketing Cloud Benchmarks Study 8/10/

16 Maximizing Customer Lifetime Value TURNING FIRST TIME BUYERS INTO REPEAT CUSTOMERS. 8/10/

17 Rewarding Customers for their Loyalty Explore the innovative, energy-saving products Purchase EE products with an instant rebate Earn points on purchase of EE products Redeem points for EE products 8/10/

18 Roadmap for Enhancing Ecommerce 1 Define Key Objectives 3 Draw Customer Insights from Data 4 Identify Target Offers, Loyalty and Rewards Strategies 5 Map Out Plan for Execution 2 Determine Data Needed for Analysis 8/10/

19 Thank you! Questions?