4 effective low-cost marketing strategies for utilities
You don’t need a large budget to market your utility’s residential programs effectively. By using creative, low-cost marketing strategies and segmenting your customers, you can reach your target audience without breaking the bank.
In our report Low-cost marketing strategies that work, we share four affordable and effective ways to market your offerings (figure 1). Members of the E Source Residential Marketing Service can read the report for more information on each strategy we recommend below.
Figure 1: Low-cost marketing strategies
Start with customer segmentation
A good segmentation strategy is essential when you have a small marketing budget. You’ll save money by focusing your marketing efforts on the right audience.
You can find detailed residential customer data to help inform your customer segments through the E Source US Residential Customer Insights Center and the E Source Canadian Residential Customer Insights Center. We recommend starting by looking at the demographics and characteristics of customers who are most likely to participate in utility programs.
Partner with community members
Build partnerships with other organizations and businesses in your community to expand the reach of your marketing campaigns. Think about the organizations your customers interact with and the businesses they shop at. It would help if you also considered how to make these partnerships mutually beneficial.
Craft creative messaging for your existing channels
Be concise and creative in emails and social media posts to make your messaging stand out. Cross-promote similar programs to make your marketing dollars go further and to increase participation. And if you want to do direct mail outreach, use postcards, as they’re the most visible and cost-effective option.
Advertise through low-cost media sources
Look for low- or no-cost opportunities to promote your programs through news outlets, digital ads, or paid search. There are a few varieties of media to take advantage of: paid, earned, and owned media.
Paid media is when you pay to promote your content. Earned media is when a third party (such as the press) voluntarily speaks about or shares your content. Owned media is content you create through your channels such as your website, blog, and social media accounts.
For in-depth guidance on each of these strategies, members of the E Source Residential Marketing Service should read the report Low-cost marketing strategies that work.