Actionable Insights for the New Energy Consumer - Accenture

Optimal introduction timeTiming is of the essence when introducingbundled products and services. Almosthalf of consumers indicate they wouldbe interested in learning about productand service bundles when their providerintroduces a new bundled offer or whenthey are moving into a new home (seeFigure 15). These moments were followedclosely by other trigger points, such aswhen their electricity bill is higher thanusual or when a consumer is signing upfor electricity service. Interestingly, atraditional moment of communicationwith consumers—the bill—rankedbehind other moments, with 36 percentof consumers stating they would beinterested in learning about product andservice bundles when receiving their bill.To examine the interest in learningabout product and service bundles fromanother perspective, we considered theinfluence of age. In some cases, youngerand older consumers stand on opposingsides of when the time is right for themto learn about new bundles. For example,the 18- to 24-year-old segment is mostinterested (at 58 percent) when they havea major life event, such as moving into anew home. In contrast, the 55+ segmentis most interested (at 58 percent) whenthe electricity provider makes a change byintroducing a new product/service bundle(see Figure 16).Figure 15. When would you be interested in learning about product and servicebundles from your electricity provider?When my electricity provider introduces a newproduct or service bundleWhen I am moving into a new homeWhen my electricity bill is higher than usualWhen I sign up for electricity serviceWhen I get my billWhen I sign up for another home service(e.g., telephone, Internet, insurance, security, etc.)When I am renovating my homeWhen I am purchasing new appliances/householdelectronicsBase: All respondents.Mentioned in top threeFigure 16. When would you be interested in learning about product and servicebundles from your electricity provider?27%25%23%Mentioned in top three36%43%49%48%47%To generate deeper insights into consumerpriorities across a spectrum of variablesrelated to electricity bundles and valuepropositions, we asked consumers totrade off components—namely, electricityrate options, consumption managementoptions, renewable energy options,customer service options and electricityusage reports. Based on the optionsselected, there was a correspondingimpact on the bill. In the exercise,our surveyed consumers ranked theirpreferences and traded off elements tocreate energy packages that meet theirneeds (see Figure 17). Diverse preferencesemerged and our analysis shows thatinterest in different packages differs bygeography, income, gender, amount oftime available for energy managementand other factors.When my electricity provider introduces a newproduct or service bundleWhen I am moving into a new homeWhen my electricity bill is higher than usualWhen I sign up for another home service(e.g., telephone, Internet, insurance, security, etc.)18-24 years 25-34 years 35-54 years 55+ yearsBase: All respondents.36%43%54%58%58%56%45%39%47%45%45%49%45%46%43%42%19