Periodically, we survey our users across all of our clients in order to better understand their needs and develop new features. Because our users are highly engaged, we get great response rates – nearly 25%. In our latest survey, we asked the following question:
How likely are you to purchase smart devices from your energy provider if you’re able to control these devices from your provider’s mobile app and use those devices to earn points in their program?
As you can see from the results, 39% of customers said they are likely to purchase at least one smart device, and just 22% said they were unlikely to purchase any devices. If nearly 40% of your customers are willing to purchase smart devices from you, you should be implementing this into your plans for 2017, but there is something you need to understand in order to maximize the effectiveness of your smart device strategy.
Customers will only buy smart devices from you if they get more value by buying from you
It’s unlikely that you’ll be able to offer major smart devices at a lower price than competitors or retail stores, so you need to look for other ways to provide your customers value that couldn’t get elsewhere if they buy from you. We already have a point-based system that users interact with in order to earn great rewards, such as gift cards and energy efficient appliances. If the smart devices customers purchase from our providers can be used as a new way to earn even more points in these programs, then customers will see significantly more value from these devices, and specifically more of a reason to purchase them from you.
Proof that you must offer your customers a reason to buy from you instead of others comes from our pre-program surveys. In response to one of the questions we ask before launching the MeterGenius-built programs, just 16% of customers said they would likely purchase a smart device. After these same customers have experienced the point-based customer experience their providers now offer, they are 143% more likely to purchase a smart device from their provider.
We have a lot more to say about smart devices and how they can be leveraged to create state of the art customer experiences, so be sure to read other articles from us. We are developing a platform that will allow customers to control their smart devices from their energy provider’s app. If you’re interested in learning more about our new connected device platform, please reach out to us at [email protected]
