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New E Source Report Reveals Strategies for Utilities to Calculate Marketing ROI
BOULDER, CO, Mar 28, 2013 (MARKETWIRE via COMTEX) --
A new three-part E Source report reveals strategies for calculating
the return on marketing investment (ROMI) for utilities, along with
case studies of existing measurement solutions and future
opportunities based on smart grid data. The series details the
challenges for calculating ROMI in both utility and nonutility
industries, presenting a comprehensive overview of the process to
utility marketing professionals working to improve their company's
bottom line through effective marketing.
"We often hear from utility marketing professionals wondering if a
particular campaign or communication channel is a good use of money
or a wasted investment," explains the report's author, E Source
senior research associate Beth Hartman. "Though it would be nice if
we could reply with an answer as simple as 'e-mail marketing works,
but not mass-media advertising,' the truth is that, of course, it all
depends on many factors. The only way for a utility to know which
marketing strategies are working and which are a waste of money is to
measure results from each campaign: If campaign costs are lower than
the value of conversions, then the ROI will be positive, and
marketing budgets should increase."
Although many utilities face business challenges unique to their
industry, such as a monopoly environment, it's still possible to make
the ROI calculation of campaign costs compared with conversion value
-- in fact, it's essential for increasing utility profits. Rather
than being a cost center, the utility marketing department is
actually an investment opportunity that will allow utilities to
sustain growth long into the future.
Enrolling customers in demand-side management programs will become an
increasingly important element of the utility business model, and
increased participation in these programs can only be achieved
through effective marketing. Utilities that fail to calculate ROMI
will be wasting money on ineffective marketing efforts and suffering
from low enrollment in programs that are essential to future business
success.
Members of the E Source Residential Market Service can learn more
about strategies for calculating utility ROMI in the three-part
report, "Are You Wasting Money on Marketing ":
-- Part I: Calculating Marketing ROI
-- Part II: Current Utility ROI Measurement Solutions
-- Part III: Outside Industries and Future Opportunities
They can also find out how to improve their utility company's bottom
line by effectively measuring and tracking results from successful
marketing campaigns.
About E Source
For 25 years, E Source has been providing unbiased,
objective research and advisory services to over 300 utilities and
large energy users. Our energy experts have answered more than 8,000
questions over the past 3 years. This guidance helps our customers
advance their efficiency programs, enhance customer relationships,
and use energy more efficiently.
Public Relations Contact
Kym Wootton
Senior Manager of Marketing and Communications
E Source
kym_wootton@esource.com
303-345-9168
SOURCE: E Source
mailto:kym_wootton@esource.com
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