Selling energy is not easy. With increasing competition, it will be harder than ever, and can be easy to fall into a phase of stagnant growth. As customers become more aware of their options within the energy industry, energy brokers are faced with the daunting task of differentiating themselves from their competitors. In order to grow your business, it is imperative to target the right audience and portray your business in an appealing manner. We’re outlining how you can position yourself for success, build an accurate prospect list and increase productivity as an energy broker to grow your business.
Build a Prospect List for Your Energy Brokerage
When an energy broker is looking to expand their client reach, they must be sure they are seeking out the right clients. In order to ensure you are targeting the right clients, ask yourself these questions.
But, Which Prospecting Methods Should You Use?
The first decision you must make when it comes to building a prospect list is determining which method you will use to contact the clients. One prospect method is visiting potential customers. Traveling on foot or by car to visit prospective clients is not everyone’s cup of tea. In-person prospecting limits the number of prospects you can speak to in a day and is not a great option if you are targeting large businesses. These often require appointments to speak with leaders of the organization. However, personal visits can go a long way with small businesses. Building rapport is much easier when you are face-to-face and it allows you to differentiate yourself from other competition that may only reach out over the phone.
Another way to reach prospective customers is over the phone. While it can be effective and favored by many brokers, it has also been overused in many different industries. Potential customers get overwhelmed by spam calls, making them hesitant to answer a phone call from an unknown number. An energy broker must find a way to stand out from the overwhelming number of phone calls when trying to reach potential clients. While phone prospecting can be difficult, there are also numerous advantages. Unlike in-person prospecting, phone calls allow you to speak with numerous prospects a day and are not limited by geographical regions. Phone calls make it easy to speak with decision-makers of small businesses and set up appointments with those for large businesses.
Email prospecting has seen an increase in popularity over the years. However, if this is your preferred method of prospecting, you must find a way to grab their attention. With a multitude of emails flooding their inboxes every day, you have to give them a reason to open yours. Like phone calls, emails allow you to reach a wide-spread audience while reaching a large sum of prospects in one day. These are effective for large businesses and can be used to set up later meetings.
It’s important not to forget an essential method of prospecting. It may seem old-fashioned, but traditional mailers may be a smart way to differentiate yourself from your competitors. Many energy brokers choose technology-based methods of prospecting. Ensure that your mailers have personality and can grab the attention of your prospects. By combining this method with phone calls or emails, you can ensure your efforts are effective.
What Is Your Energy Brokering Niche?
Energy brokers should set goals and diligently work to achieve them. One of the best ways to help you stay on track? Choosing a specific niche, or industry, to target. This helps eliminate distractions and streamline the decision-making process. Consider targeting hotels, grocery stores, hospitals or schools to increase your credibility within that industry and condense your prospecting list. Once you have a prospecting method and target audience, you are ready to begin building your list. This streamlined process to building a prospect list will help you increase productivity and be successful in a fast-paced, ever-changing industry.
Differentiate Yourself as an Energy Broker
The energy industry is booming with competition. In order to grow your business and increase sales, an energy broker must find ways to differentiate themselves from the competition. Energy brokers must convince their prospective clients that their offerings are worthwhile.
An energy broker is constantly competing with others in the industry. Consumers have slowly become aware of their ability to choose their energy providers. As consumers make decisions on their energy provider, many will be swayed by experience and knowledge. While consumers appreciate their ability to control their energy, they often do not have the necessary information to make smart decisions. Energy brokers who are continuously providing valuable insight will attract customers who want to ensure they are getting the best deal for their energy.
When you think of all the qualities an energy broker must possess, creativity and the ability to network are at the top of the list. While these may seem off the wall, it is essential for an energy broker to build relationships outside of traditional energy generators. When you have a large client base, you automatically become more competitive in the marketplace. Partnerships with businesses may be the future for energy brokers. Further, customer service is imperative to maintaining pre-existing clients. Word of mouth is a key way for businesses to grow. If a client has a negative experience with your customer service, they will not recommend your business to others and you could lose the client altogether.
Market Benefits of Service
When there is a plethora of options for consumers to choose from, an energy broker must communicate the benefits of their services. By utilizing strategic marketing communications, you can show consumers why an energy efficiency investment is beneficial and how your business is the best fit for their needs. Utilizing social media, a detailed website, and email marketing, you can continuously communicate with potential clients while establishing your brand. By doing so, you can continue to demonstrate your expertise and increase your consumer base.
Utilize New Tools
By combining effective marketing efforts with technological advances, you can set your business apart from others. Utilizing progressive software and other offerings helps a broker expand their services and optimize opportunities. Providing the necessary tools and software can help your clients better manage their energy consumption. This not only gives you a competitive advantage, but it also contributes to building a trustworthy relationship with your clients.
Growing your business can be hard, but it is not impossible. By targeting the right audience and differentiating yourself from competitors, you can watch as your clientele begins to increase. See how our award-winning software, specifically designed to help energy brokers expand their business, can help you meet your goals.
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