Bite-Sized Insights: Home Energy
Each week we ask our trusted Insights panel of parents a key question. This week we were interested in finding out what prompts parents to switch their home energy suppliers. Take a quick read of this week’s bite-sized insights to find out what parents are saying about home energy.
Would you like business-transforming insights for your brand? Use our tailored panels of engaged parents and our dedicated private platform to gather critical insights to help your decision making and activate customers. Contact us now to find how we can help.
Recommended reading: Bite-Sized Insights: Pensions
We asked our Insights panel of parents to tell if they had ever switched energy provider and if so, what made them switch. We found out that two thirds of respondents got a better price by switching and 12% used a switching website to compare prices and switch supplier. Here are some other insights we discovered:
Any further thoughts on switching home energy providers?
Comments from our panel members included:
“It can sometimes be difficult to switch providers and it frustrates me that suppliers aren’t required to offer current customers the same rates as new customers as in some countries!”
“Generally it takes one of the company’s representatives calling to the door to encourage me to change. Find it hard work and not really worth the effort of changing.“
“Just go with the best deal for the year and look who has the best offer after that, I’ve no issue staying with the same company or changing depending on their offers.”
“We only switched providers due to poor customer service and will stay with our current provider unless their customer service deteriorates or they no longer provide the service.”
“It’s important to switch because loyalty discounts ain’t given, they have to be sought.”
“It can be a pain as sometimes there are hidden details like how long the new tariff lasts for and what will your tariff be then.”
“A loyalty scheme would also be a great incentive and the trust that the cost of my electricity would not rise.”
“I’ve stuck with Electric Ireland since I moved out of my home house because they look after me and give me discounts to match whats on offer.”
“We are with Bord Gáis so long that we are on a historic loyalty plan and nobody else can come near to being the same price as them, let alone cheaper.”
Actionable Insights for Home Energy Providers and Switching Services
- Parents perceive the task of switching energy providers to be difficult and not worth the effort. Energy providers and the services which help to enable switching should make every effort to highlight just how easy it is to switch energy providers and emphasise the benefits of doing so.
- Parents want their loyalty recognised. Is there a way you can make your company stand out from the crowd with a competitive loyalty scheme that rewards long-term customers?
- Companies could look to launching an automated switching service for customers which periodically checks to make sure that they’re on the best deal available and switch them accordingly. This could help to attract new customers by removing administrative stress from their lives.
Would you like business-transforming insights from parents for your business? Use our tailored panels of engaged parents and our dedicated private platform to gather critical insights to help influence consumers to deliver long term profitability. Contact us now to find how we can help.