01 Jun How Energy Auctions Create Sticky Relationships
We know online reverse energy auctions incentivize competitive pricing and help energy brokers provide the most transparent service to their customers, which in turn creates sticky relationships. Given that, we have built out reverse energy auction software, EnergyAuctions (EA) as a fully transparent and auditable reverse auction platform where energy suppliers can bid on pricing opportunities and customers can view the auction in real time.
How Does an Energy Auction Help?
You might be asking, how exactly can an energy auction help my energy brokerage? It’s easy, by creating a great customer experience (CX). By being transparent and delivering a consistently fair price, customers feel taken care of, and we have found through our user experience (UX) research that this creates sticky relationships.
Sticky relationships are critical in energy given the normal amount of churn because customers have been cultured to think the cheapest price should be the driving factor in the energy broker they work with. Likewise, the industry is fraught with short-term relationships, that usually last no more than one contract.
But brokers that use our energy broker software are experiencing a different relationship. By providing added value, they are finding their customers are not even looking at other brokers. This sense of security, in turn, has helped them to scale their business by reducing the number of reactive touches with existing clients, thereby allowing them to be more proactive and value-driven.
EA is a turnkey reverse energy auction designed with ease of use and very little of a learning curve required. It is open, transparent, auditable, and populated with your selected suppliers so that your customers can take back control of their energy needs and choose a contract that best fits their needs. To learn more about EA, contact us today!