Energy Retailer Reduced Customer Churn by 14% by Increasing Level of Personalization
New Zealand’s largest energy retailer, Genesis Energy, has expanded their offering of personalized energy insights to all eligible customers, after initial pilot with Ecotagious reduced customer churn by 14%
June 2018, Vancouver– Genesis Energy achieved tremendous customer engagement and retention levels from a pilot program which included personalized paper and email home energy reports. As a result of the success, they recently expanded the program with Ecotagious to deliver the energy insights directly into Genesis Energy’s existing portal for all eligible customers in the 400,000 residential customer base.
The pilot program delivered a 14% reduction in customer churn thanks to smart meter disaggregation analytics and machine learning that delivered highly engaging, personalized, appliance-level insights to each customer. This included an energy usage breakdown based on actual usage, coupled with relevant social benchmarking and tailored recommendations on how customers can reduce their energy bill, which also encourages participation in other programs.
“We are thrilled with the pilot results and extremely excited for the program expansion,” commented Aaron Birley of Genesis Energy.
“Not only does Ecotagious’ disaggregation allow us to deliver tremendous value to customers over various channels, but the there is exciting potential for use as a tool for marketing, business and other innovative initiatives.”
The Ecotagious API technology adds incredible value as it seamlessly delivers personalized energy insights into Genesis Energy’s online customer portals, allowing customers to access their energy insights on demand.
“This is a great example of how utility companies can easily drive innovation in their organizations by starting off small, learning fast, and scaling appropriately upon positive results,” commented Salim Popatia, Vice President of Business Development at Ecotagious. “We are thrilled to be helping Genesis extract value from their smart meter data and provide their customers with the information they’ve been looking for.”
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About Genesis Energy
Genesis is a diversified energy company. They sell electricity, natural gas and LPG through their retail brands. They generate electricity, and trade electricity and natural gas, through their Generation business. Genesis also have a 46% interest in the Kupe Joint Venture which owns the Kupe oil and gas field. Genesis is New Zealand’s largest electricity and gas retailer, supplying energy to more than 650,000 customer connections across New Zealand.
Ecotagious uses their SaaS solution to help utility companies drive industry-leading energy savings and enhance customer engagement. Through the power of big data analytics and machine learning, Ecotagious disaggregates existing meter data into appliance-level energy insights. Ecotagious’ proprietary analytics are designed to enable the delivery of hyper-personalized energy insights over various channels and have been verified by third-parties to achieve industry-leading energy savings. Ecotagious Inc. is a private company based in Vancouver, Canada