As more and more states choose to deregulate energy, this presents both interesting possibilities and challenges for energy brokers, including obtaining competitive energy rates for your customers as well as finding enough energy suppliers.
Because 8 out of 10 new businesses fail within the first 18 months of operation, creating a pipeline of clientele should be top of mind for you as an energy broker.
Here are 3 ways you can get more energy suppliers for your brokerage!
Expand Into New Markets
To grow and expand your business you'll need to be able to access new markets. This allows you to expand your pool of supplies and obtain the competitive energy rates you’re looking for.
- Access new markets that you haven’t before
- Expand your pool of suppliers
- Obtain competitive energy rates
In order to do this, you’ll need to focus in on targeting your ideal customer. Those ideal customers could be outside of your current target range. Figure out everything you need to know about potential energy customers and understand their must-haves, nice haves, and pain points. It'll be easier when you've got criteria potential energy clients should meet.
Your current market might be drained of potential customers while there are markets nearby that can use the same energy supplier. This allows you to double sometimes even triple the number of customers you could potentially work with. It also allows for word of mouth to increase, when one customer gets a good deal other potential customers will hear about it.
Automate and Optimize Your Sales Process
As demand for energy increases so does the need for a reliable and trustworthy automated way to purchase and contract for energy. The software can provide information on available deals, help with contract negotiation, and keep track of current energy prices as well as changes in energy prices. Make sure your customers are able to receive the best possible price without the complicated paperwork.
Software alone will not guarantee new clients. The deregulated energy market is new and many businesses might not even know you exist. They also won't know that you could provide them with the best possible price. Try a few of these methods:
- Find your ideal customer, just like expanding your network you need to get specific. Who are you trying to find and where can you find them.
- Brand recognition, people are more likely to go with a brand they trust. Therefore it is important to always be honest and implement a brand recognition strategy that promotes honesty first.
- Cold calling, to be blunt, cold calling sucks. It works though. You won’t ever convert all your calls but it’s a starting point and it helps to get the word out.
Integrate Your Current Sales Tools and Streamline Your Entire Pipeline
Create and customize price proposals that save you and the customer time. This also allows you to provide the best possible service to your clients. Electronic data capture software allows you to gather customer data remotely from customers' meters. This date will allow you to create customized proposals and forecasts.
There is more than one way to get new customers and grow your energy brokerage. One of the most effective ways is to use software that eliminates the tedium of automatable tasks to help you scale up, renew your focus on exceptional customer service, and build a solid presence in the broker industry.
At POWWR, we understand the unique challenges of energy brokers because we are energy brokers. We wanted to create software that truly targets the problems that you face and helps you find the success, increased profits, and efficiency you’re looking for.
Automate and grow your energy brokerage with instant pricing to sales analytics. Brokers can easily scale their business and be empowered to make smarter strategic decisions with Broker360.
Learn more here.