Two Things Utilities Should Know about Millennial Customers

Posted by Lauren Bell on December 9, 2015 at 4:24 PM

Between distributed generation demands, net metering and technology innovations, there are hard choices for you to make, complex programs to manage, and new opportunities to navigate.

On top of that, this great revolution also brings a new kind of customer. A younger customer. A customer who is increasingly aware there are choices and opportunities when it comes to their energy provider. It’s up to you to make them comfortable, confident and educated in what you can or do provide them.

So we hit the road to talk to this generation about energy and energy efficiency. The two big takeaways:

  • They want to learn more about energy efficiency.
  • They don’t know they have a resource in their utility.

WATCH the video highlights here.

In addition, KSV’s 2015 market research showed 60% of homeowners aged 25-34 believe their utility could be doing more to encourage energy efficiency. This is significantly higher than any other age group.

So, you’ve got some catching up to do. And fast…

According to the Brookings Institute, Millennials are increasingly important to the future of utilities:

  • In five years, they will make up 1/3 of the adult population. 
  • In ten years, they will make up 75% of the work force.

In addition, this customer will demand more information, services and products than ever before. Don’t worry though. They only have 3 criteria: cheap, convenient, and cool.  (Oh, brother…)

The information they demand is instantaneous, constantly accessible and personalized to them.

Or else? They won’t pay you any attention. They won’t recall the hard work you’ve put into your marketing. And if they don’t know you’ve got solutions and/or that you’re trying, you’re likely looking at shrinking JD Power scores and little hope for participation. (Much less, advocacy.)

So back to their response on energy efficiency – WHY are we not making these customers a priority? NOW?

Energy efficiency is a big opportunity. It’s something they’re already interested in… and an area where they need a resource. A place they admittedly need a Trusted Advisor.

Show them you can bring value into their lives and homes. Show them you’ve got the answers.

Stay tuned for next week: we're going to dive deeper into this disconnect between interest in E.E. and knowledge on E.E. with Millennials and other critical demographics.

Lauren Bell / Engagement Manager / 802.862.8261 / lbell@ksvc.com 

Topics: Customer-Centric Marketing, customer demands, Customer Engagement, Customer Insight, utility communications, Utility Marketing, communications, energy efficiency, Energy Wire, Intelligent Efficiency, KSV research, marketing, millennials, personalization

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