An Energy Revolution... and the Millennials Who Demand It

Posted by Ashley Nicholls on November 4, 2016 at 9:30 AM

Last week we shared with you some of the biggest takeaways from our time at the BECC conference, this week we're highlighting some of the comments we heard during the KSV session on millennials and energy.

There is a revolution happening in the energy space.

And in addition to all the disruption and transformation that this new dawn is bringing, it 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, utilities, energy companies, and smart home providers, 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.

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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.

Want even more millennial insights? 

Check out our two page brief on millennials and energy.


Topics: Customer-Centric Marketing, Utility Communications, Data and Analytics, Digital Transformation and User Experience, Innovation, Marketing Strategy and Best Practices, Audience Segmentation