Today, NextBee announced their initiative to connect utility companies to their customer base on a more personal level while keeping costs lower and the process more automated.
The launch of their new Utility Customer Recognition & Rewards Program utilizes many of the cutting-edge features that have kept NextBee at the front of the engagement marketing industry.
“Now it’s easy to segment users and offer personalized incentives and bonuses to each member of the segments which humanizes a brand but on a scalable level”
NextBee CEO Ashish Mohole had this to say, “Over the last several years numerous cities have introduced deregulated utilities, and this compounded with perceived customer service issues, flatline brand imaging, and a general lack of customer relationship has caused a growth in utility customer churn. Losing customers has many implications for utilities. For instance, loss of revenue, loss of market share, further decline in brand imaging, and increased threat of acquisitions. Moreover, it can cost 6-7 times more to acquire a new customer than to retain an existing one. Slowing and preventing churn is not a one-time activity but instead requires continuous personalized engagement. Our new initiative allows for the segmenting of customers based on the micro-patterning of data. It offers personalized incentives and bonuses to each member of the segment. Thus, it humanizes a brand but on a scalable level.”
Deep Segmentation:
Deep segmentation allows for not only a more personalized program but also for churn prediction analytics. Brands can use information such as historical energy consumption, type of property, type of customer (i.e., residential, commercial, or industrial).
Additionally, it predicts the type of product, customer demographics, client interactions, social media noise, complaints, customer’s sentiment score, etc. A churn prediction model proactively offers targeted campaigns for customers with higher lifetime value.
Customizable Rules Engine:
Using the segmentation data, utilities can now focus on high-value clients with personalized services, micro-campaigns, or customized products/services which helps to retain clients (and lure new ones too).
Smart Incentives:
Management can set limits, change tier reward point levels, give ad-hoc bonuses. They can also adjust incentives overall from the micro-patterning data NextBee’s community engagement engine creates.
Everything in the Utility Customer Recognition & Rewards Program is designed to create an engaging yet highly flexible environment that drives users to participate and creates higher customer lifetime value while building a more connected brand that is focused on customer connection and excellence.
In addition to this new initiative, NextBee is now also offering Engagement Program Consultations and has recently launched a new Security Compliance Assessment Service for Loyalty and Engagement Programs which allows for an evaluation of any weak spots in current loyalty or reward programs. Companies can register for these free assessments at https://info.nextbee.com.
You can also, join the online conversation on Facebook, Twitter, and LinkedIn.
NextBee is a software company that creates cutting edge engagement programs via their AI and Machine Learning system. For the past 10 years, NextBee has delivered its technology as a service to the world.
Our award-winning engagement marketing platform automates the full lifecycle of loyalty, referral, and advocacy. NextBee offers personalized solutions for integration, implementation, and the most robust project tracking tool.
NextBee delivers the engagement software solutions and support companies want at each step of their business’ journey.
