Customers Want TOTAL Solutions from Utility Marketplaces

No one visits a marketplace shopping thinking "I'll just buy part of what I really need today." Customers generally shop with an outcome in mind, a total solution to a particular need, even if they don't know all of the individual pieces. They visit a shopping site with a clear idea of their goal and a willingness to learn, so why do so many utility marketplaces offer just a part of the total solution?

Customers buy smart thermostats because they want to save money on their electric bills and perhaps be a bit more responsible about their energy use in their community. Smart thermostats are a gateway device for the smart home, but they also get returned to the retailer more often than almost any other smart home purchase because they are confusing to install and hard to understand. Cornell researchers found that of those people who do install the device, many users just leave them with the default settings so they never get the benefit of the learning features for real energy savings.

Utility marketplaces can deliver a total solution simply by bundling the smart thermostat with a convenient local professional to help with installation and set up, and enroll the device in a demand response program where available. Customers will have a far better chance to actually realize the energy and financial savings from the smart thermostat by thinking in terms of their ultimate goal, not just the device transaction.

EV owners need home charging options for their vehicles, but no one buys a charger just to keep their car charged. Any outlet can do that job. EV owners want a charger to fulfill a desire to save money and be more ecological. EV owners that plug their car into a home charging station that charges their car at peak rates may actually find their electric bills going up, which can be a terrible shock on their bill. Utilities can offer bundles on their marketplace that match a smart EV charger compatible with customer vehicles, along with a professional installation and set up, and enroll customer in an available time of use rate plan so that they can charge their EV during off-peak hours or on special rate plans and save money.

By thinking in terms of what outcomes customers want to have, not the device they may buy, utilities have an opportunity to deliver a unique value on their marketplace. Bundling complete solutions for energy efficiency and program enrollment helps utilities differentiate their marketplace and create unique value-add benefits for customers. Combine a product like an EE device with a service like professional installation or a service contract for extra protection, and enroll customers in a utility program to improve service delivery and participation. Show customers that you really understand their needs by offering unique bundled solutions on your marketplace and really drive more traffic and engagement for the modern utility CX.

If you need more ideas about how to bundle solutions and give customers a reason to visit your marketplace, or take advantage of special offers with the utility, please get in touch. We're always happy to be of service.

Image created using DALL-E, a product of OpenAI, created Jan 26, 2024