Energy Series: Think Your Customer isn’t Looking at Their Energy Bill? Think Again.

 

It used to be that the household electric bill was a simple recurring monthly statement. Regulation gave customers confidence that they were being charged a fair price for their energy. The monthly price fluctuated in a predictable way. Customers got into the habit of setting up a recurring direct debit from their payment account and then not really thinking about it again. But forces are at work now that are causing household energy consumers to pay more attention to the details on their bill and to sense the fluctuations more acutely. So, don’t think your customers aren’t paying attention to the electric bill. Your customers are actually getting increasingly interested in the details of their bill.

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Energy Series: As Time Runs Out on a Unique Opportunity, Should the CMO Care About More Than Price?

Domestic energy, cable, and media companies have a short-term opportunity to take advantage of chaos in the consumer utilities market. As the shock waves of deregulation ripple through these industries, we will continue to observe consolidation, mergers, acquisitions, and new partnerships between and among cable, internet, energy, and streaming content, and other domestic service providers. Energy companies, in particular, will be compelled to diversify their product offerings to include services such as internet connectivity and streaming media services. At the same time, new providers will flood the market with bundles that include energy as well as cable subscriptions, home security, clean grid options, programming, and streaming content.

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Marketing Needs the 5th P

Why Payment Now Belongs with Product, Price, Place and Promotion as a Key Decision Lever
Since the 1960s, - the smartest of marketers have developed an offer taxonomy based on the 4 Ps—product, price, place and promotion. For years these 4 Ps have helped us marketers measure, classify and optimize different offers against one another based largely on these trigger points, allowing for an organized and optimized marketing mix that drives revenue with the most efficiency. And that taxonomy-- or process of determining how all the offers from brands should be broken down into distinguishable pieces, has held its grip on the marketing industry.

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About this blog

At Pluris, we believe that we all can do a better, more efficient job at marketing to our most important customers. On this blog, we'll discuss how strategy, database management, offer optimization and analytics can help us all be better marketers. Sometimes, we may just talk about sports.

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