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Navigant Research Report Shows Global Spending on Customer Engagement Through Demand Side Management (DSM) is Expected to Reach $1.1 Billion by 2027

Posted By Brett Feldman, Thursday, May 31, 2018

Navigant Research Report Shows Global Spending on Customer Engagement Through Demand Side Management (DSM) is Expected to Reach $1.1 Billion by 2027

To enhance competitiveness and meet customer expectations of new technologies, utilities and retail suppliers should invest in customer-centric DSM products

A new report from Navigant Research examines the global market for customer engagement through DSM (CEDSM), providing market forecasts for spending segmented by region, through 2027.

As customer expectations grow for new technologies, so does the market for CEDSM products, making it easier for utilities and retail suppliers to engage with them. However, uncertainty in the long-term cost-effectiveness of these solutions remains a barrier to global adoption, in addition to region-specific competitiveness of a deregulated energy supply market. Click to tweet: According to a new report from @NavigantRSRCH, global spending on CEDSM is expected to reach $1.1 billion by 2027.

“Because of the changes in consumer expectations, utilities and retail suppliers are seeking DSM software solutions that can lower the cost-to-serve and improve customer satisfaction and engagement,” says Brett Feldman, principal research analyst with Navigant Research.

According to Navigant, to enhance CEDSM competitiveness and customer acceptance, utilities and service providers should focus on combining budgets and revenue streams to cover costs, transition to newer business models while complementing existing DSM programs rather than replacing them, and offering accurate building energy use models to build customer trust.

This report, Utility Customer Engagement through DSM, examines the global CEDSM market, with a focus on market drivers and barriers, case studies, and forecasts for residential and commercial and industrial (C&I) CEDSM spending. The study examines the trends related to CEDSM to highlight regional activities and approaches to behavioral DSM and utility marketplaces. Global market forecasts for spending, broken out by segment and region, extend through 2027. The report also profiles key CEDSM solutions providers and provides recommendations for utilities, retail suppliers, and vendors that aim to enhance CEDSM effectiveness.

Contact: Stefanie Bradtner
+49.221.270.70.142
stefanie.bradtner@navigant.com

* The information contained in this press release concerning the report, Utility Customer Engagement through DSM, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.

Tags:  Behavioral  customer engagement  customer engagement digital  Customer Engagement Energy Efficiency  Customer Engagement Residential Programs  Customer EngagementResidential Programs  customer satisfaction  digital engagement  DSM  Energy Efficiency  energy efficiency programs 

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Why Personalization Matters white paper

Posted By Ryan Gooch, Friday, March 9, 2018

 

The world is a really noisy place. It can be incredibly challenging to deliver messaging to your customers that gets their attention and gets results. Your best chance is to personalize your communication and engage customers at the individual level at every touch point. The right approach to personalization is good for both you AND your customer, helping you become a trusted purveyor of useful, relevant content. While email is one of the most impactful and cost-effective channels for personalizing your messaging to customers, the same level of personalization can be applied across all channels and initiatives. This is great news, because now more than ever, utilities need to connect with customers on a more meaningful level. Personalization is a strategic imperative.

 

Ryan Gooch, Director of Customer Success
Fivework
ryan@fiveworx.com

Download File (PDF)

Tags:  customer engagement  customer engagement digital  customer satisfaction  digital engagement  fiveworx  personalization  white paper 

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Personalization and Relevance Achieve Customer Engagement

Posted By Karen Morris, Wednesday, September 13, 2017

Personalization and Relevance Achieve Customer Engagement

Atlanta GA, Today in Denver at the 30th anniversary of E Source’s Forum, with nearly 800 energy professionals registered, Apogee Interactive debuted their latest in a long list of firsts, surprising attendees and generating excitement about new innovative technologies. Energy professionals attending the Forum expect to learn about the latest energy trends and technologies.

Apogee chose this venue to unveil its latest success integrating its proprietary bill analysis algorithms with the Amazon Echo. With Apogee’s technology, Echo’s voice assistant, Alexa, responds to questions like, “Why has my bill changed from last month?” Alexa can now explain impacts such as weather, days of service, rate changes, and other factors related to home operation or behavior like guests in the home or changes to thermostat settings.

Using the same time-tested energy algorithms Apogee uses to power their comprehensive line of residential applications, Alexa pours over a customer’s 13-months of billing history along with weather coincident with the meter-read date and AMI data, when available, to give customers answers to commonly asked questions that can produce calls to the contact center.

Ken Black, E Source Co-Chairman, noted that this year’s registration is the highest in E Source history making it a perfect venue for such a launch.  “Apogee brings something new and insightful to the Forum, and we appreciate their commitment and focus on energy industry issues.”

Personalization continues to be Apogee’s hallmark message for energy professionals as demonstrated by their development of personalized energy summary reports and video bill explanations, all examples of what utilities can easily do to engage customers and build their digital presence.

According to Susan Gilbert, Apogee CEO and co-founder, “Personalization gives the utility an opportunity to be relevant to customers, and relevance causes customers to engage.”

In addition, Apogee demonstrated a new virtual presence device known to Big Bang Theory viewers as “Sheldonbot” or more aptly, “Joelbot,” since the virtual presence was that of the leading innovator in our industry, Apogee’s Chief Software Architect, Joel Gilbert, P.E.

Captivating attention and generating interest as he cruised the crowded aisles meeting and greeting friends and acquaintances, “Joelbot” was a show-stopper.  Conversations were warm and personal as he compared notes and caught up with colleagues he has known and consulted with for more than 30 years in the business.

Apogee Interactive, Inc.

Apogee Interactive is one of the nation’s leading providers of customer engagement software services for the energy industry. Partnering with utilities since 1993, Apogee’s digital engagement platform delivers proactive, personalized communication to consumers nationwide. Apogee’s proven SaaS platform enables more meaningful customer engagement, proven sustainable energy results, reduced operating costs and improved program performance for utilities. For more information, please visit www.apogee.net and follow them on Linkedin and Twitter at @apoweb.

Media Contact: Karen Morris, Apogee Interactive, 678-684-6801, kmorris@apogee.net

 

Tags:  Apogee Interactive  customer engagement  customer satisfaction  energy education 

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Why Low-Income Customers Need Their Utilities’ Help Now More Than Ever

Posted By Karen Morris, Tuesday, August 15, 2017

Utilities have struggled for years to engage their customers, and in no segment, have they struggled more than low-income. Low-income consumers have historically been difficult to serve, and managing the challenges of delinquency and bad debt have further bogged down these relationships. Today, even though the stock market is hitting record highs, unemployment is on the decline, and poverty rates are falling, this problem might seem like an issue that utilities can take a break from focusing on. That isn’t the case.

The rebounding economy has not improved conditions for millions of low-income families in America who are still living in perpetual financial insecurity. Helping these families manage their energy spend so they can keep the lights on and ensure that their children stay warm in the winter should be a priority for every utility. With proposed federal budget cuts on the horizon this situation could decline even further.

ACEEE reports that low-income households are spending an average of 7.2 percent of their income on utility bills, that is more than triple the spend of median households. Utilities now have a unique opportunity to ease this energy burden and help these families get ahead.

How can utilities help and still be profitable? 

 In researching a solution to the low-income burden on both families and utility Apogee discovered that it is common for this customer segment to contact the utility several times every month repeatedly. These customers are well known to the utility, they may not be hard to reach but they are hard-to-serve.

The benefits of a successful low income strategy include substantial rewards. For every 10,000 low income customers, if you reduce one call per month for ten percent (10%) of these customers, the annual savings to the utility is between $60,000 and $90,000.  For larger utilities, for every 100,000 low income customers, the savings are $600,000 to $900,000 annually. These savings do not consider other hard costs such as reductions in collection efforts, bad debt, and avoided disconnect and reconnect services, nor the benefit of improved cash-flow, improved customer satisfaction and increased customer engagement.

What’s the secret?

Deliver a message that is relevant, personal, and prompt. Remember the basics of customer satisfaction. Give customers control, care, and choice.

Control

  • Just in time energy and payment alerts delivered by email or text that allows time to adjust behavior before the high bill arrives.
  • Energy saving recommendations that put customers in control of their energy use. Suggesting actionable low cost or no cost opportunities to save energy.
  • Program awareness offering opportunities to participate and benefit.

Care

  • Deliver your message with dignity when there is still time to make a difference in the bill.
  • Reach out through social organizations.
  • Offer multi-lingual communications and address cultural differences.

Choice

  • Communicate multiple payment options like budget billing, authorized payment centers or pre-pay options.
  • Allow customers to choose their preferred method of communication.
  • Use a mobile friendly preference management system

Apogee is dedicated to helping utilities build trust and bring value to low income communities while easing the burden to serve this growing segment. Apogee’s new Energy Platform for Information & Communication, or EPIC, offers a way to tackle the challenges associated with engaging hard-to-serve customers proactively, through ongoing engagement. EPIC gives actionable guidance for renters, low-income or multifamily dwellers.

Want to learn more about low income outreach strategies and digital engagement that can help you make a difference in your community? Call 678-684-6801 or info@apogee.net or visit  www.apogee.net. Subscribe to Apogee's blog at www.apogee.net/blog

 

About The Author

Jim Malcom, Chief Financial Officer and EVP of APOGEE Interactive, Inc.

Mr. Malcom, has been Apogee's advocate for low income initiatives for the past 2 years. He brings more than 25 years in corporate finance and accounting to Apogee, which began with the firms KPMG and Ernst & Young in Atlanta. He has held senior posts as chief financial officer, corporate controller, vice president and treasurer for such area companies as Heidelberg USA, LecStar Telecom and Powertel.

Jim is a graduate of the University of Georgia with a bachelor's and master's degree in business administration, a certified public accountant, and a chartered global management accountant.

 

Tags:  Apogee Interactive  Customer Engagement Energy Efficiency  Customer Engagement Residential Programs  customer satisfaction  low income 

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Customer Co-Pays: Driving Faster Adoption of New Technologies Without Breaking the Bank

Posted By Jamie Delk, Tuesday, April 11, 2017

CFLs and programmable thermostats have had success. Both have increased in market share and continue to gain momentum. Newer, and higher priced, measures like LEDs and smart thermostats show significant savings potential but need a co-pay to support initial rollouts.

Click here to read the full blog post and download the eBook.  http://bit.ly/2orCAYd 

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Tags:  copay  co-pay  customer satisfaction  energy  Energy Efficiency  energy efficiency programs  franklin energ  Franklin Energy  Franklin Energy Services  Franklin Energy Services LLC  results  technology 

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