Post on 22-Jul-2020
transcript
1©2015 Comverge – Confidential and Proprietary
Applying Segmentation
Pravin Bhagat, Vice President, Marketing
Agenda
What is Segmentation
Every Segment Tells a Story
Benefits of Market Segmentation
Shifting Paradigm
2©2015 Comverge – Confidential and Proprietary
What is Customer Segmentation?
Three key things to keep in mind for success:
What is it you want to know?
How will you conduct the study?
What system(s) do you have in place to measure
the results?
3©2015 Comverge – Confidential and Proprietary
4©2015 Comverge – Confidential and Proprietary
Income LevelAge Group
Education Level
Size of HomePresenceof Children
Gender
Rate Class
EnergyConsumptionPatterns
Technology UsagePreferred Channel of
CommunicationPayment Practices
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0001010101000001010101101101100101011001110010101100010101001
0110011100100111010101000101010100000101010101010101100010101
0010110011100100111010101000101010100000101010111011011001010
1100111001010110001010100101100111001001110101010001010101000
0010101011011011001010110011100101011000101010010110011100100
1110101010001010101000001010101010101011000101010010110011100
1001110101010001010101000001010101110110110010101100111001010
1100010101001011001110010011101010100010101010000010101011011
0110010101100111001010110001010100101100111001001110101010001
0101010000010101010101010110001010100101100111001001110101010
0010101010000010101011101101100101011001110010101100010101001
0110011100100111010101000101010100000101010110110110010101100
1110010101100010101001011001110010011101010100010101010000010
1010101010101100010101001011001110010011101010100010101010101
0101010000010101011101101100101011001110010101100010101001011
0011100100111010101000101010100000101010110110110010101100111
0010101100010101001011001110010011101010100010101010000010101
0101010101100010101001011001110010011101010100010101011011001
0101100111001010110001010100101100111001001110101010001010101
0000010101010101010110001010100101100111
Income LevelAge Group
Education Level
Size of HomePresenceof Children
Gender
Rate Class
EnergyConsumptionPatterns
Technology UsagePreferred Channel of
CommunicationPayment Practices
Income LevelAge Group
Education Level
Size of HomePresenceof Children
Gender
Rate Class
EnergyConsumptionPatterns
Technology UsagePreferred Channel of
CommunicationPayment Practices
5©2015 Comverge – Confidential and Proprietary
Who your customers are What they want
What they need How best to engage them
Every Segment Tells a Story
Key segments from Comverge Mid-Atlantic DR
initiative, 2013
The New Gentry
First Families
The Good Lifers
6©2015 Comverge – Confidential and Proprietary
The New Gentry
Who they are:
Couples >40<60, children in college or fledged
Professionals
College, College + Graduate School
Large, upscale homes in suburbs
Significant disposable income
What they like:
Purchase green products regularly
Travel
Concert/Theatre events
Insight:
Money not a primary motivator
Target abstract needs: High value on
validation/recognition for effort
7©2015 Comverge – Confidential and Proprietary
First Families
Who they are:
Couples, aged >30<40 with 2+Children
College grads
White Collar Managers/Professionals
Ethnically diverse
Comfortable mid-sized home in suburbs or exurbs
What they like:
Technology- high percentage early adopters
Financial products
Outdoor sports
Campers/powerboats/motorcycles
Insight:
Money key in decision making
Very busy/Always on the go
Target financial opportunity: Save/earn more money very
compelling
Acknowledge work hard/play hard mindset
8©2015 Comverge – Confidential and Proprietary
The Good Lifers
Who they are:
Childless singles/Empty nest couples >55
College
Retired professionals
Older, comfortable suburban homes
Careful with money, but financially comfortable
What they like:
Home activities: gardening, reading, entertaining friends
and family
Active in charities and causes
Local museums and events, casual dining
Insight:
Quick to recognize a “good deal”, but money isn’t primary
motivator
Target empowerment on “big picture” issues with
acknowledgement of family/community
pride/responsibility
9©2015 Comverge – Confidential and Proprietary
10©2015 Comverge – Confidential and Proprietary
Retailers understand that success lies in reaching
and satisfying key customer segments … and
understanding it’s impossible to satisfy everyone.
But regulatory requirements dictate that utilities
must serve everyone, so …
Benefits of Market Segmentation
Targeted marketing initiatives prove more efficient and effective
Resources and investments may be focused with substantially less risk
New offerings are shaped to address customer demand/needs
Customer coverage is enhanced through better understanding of
customer preferences
It’s doable!
Customer segmentation is available to every utility regardless of:
Size
Regulated or non-regulated market
AMI-deployed or non-AMI equipped
Munis, Co-ops or Investor-owned
11©2015 Comverge – Confidential and Proprietary
0
10
20
30
40
50
Dec-2007 Dec-2009 Sep-2011 May-2012 Dec-2012 Jul-2013
7
13
27
36
4246
Mill
ions
Installed Smart Meters
As of July 2014, over 50 million smart meters have been installed in the
U.S. They are now present in more than 43% of American homes.*
12©2015 Comverge – Confidential and Proprietary
Smart meter deployment in the U.S. is projected to reach over 70 million in 2015.*
The data collected by AMI now enables utilities to:
View the customer holistically
Integrate new resources
Create and manage relevant new services
*Utility-Scale Smart Meter Deployments, IEI Report, September 2014.
Shifting Paradigm
13©2015 Comverge – Confidential and Proprietary
Transactional
Relationship
Engaged
Relationship
Non-AMI
World
AMI
World
Paper
Bill
Gamification
Social
Media
Internet Engagement
Portal
Direct
Phone
Call
In this data-driven, technology-driven, new world, segmentation provides us with
the ability to anticipate customer needs and meet their heightened expectations
that continue to rise.
Smartphone