Artificial intelligence and personalization increase customer satisfaction, support demand-side management programs and enable new revenue streams
MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Global utilities have turned to the new Bidgely artificial intelligence-powered Marketplace Solution to personalize the marketplace experience for their customers, increase monetization opportunities and achieve demand-side management (DSM) program goals. Through patented artificial intelligence (AI) techniques applied to meter data, utilities have created a personalized, integrated marketplace to include new energy savings recommendations, purchasing channels and rebate programs. Utility customers also experience greater product discounts, as Bidgely has partnered with some of the largest e-commerce and home improvement retailers around the world.
The Bidgely integrated marketplace solution targets customers who have a higher propensity to buy and leads them directly to the product categories that are best for them. It also educates customers with the essential information and insights around their homes; energy consumption and buying guides; and arms them with the specific product recommendations needed to make purchase decisions. The marketplace experience is further enhanced by offering convenient choices to customers for fulfillment through preferred third-party providers and featured special offers. The solution provides:
- Personalized identification and education of products, simplifying the purchasing experience and leading to happier customers.
- Bidgely’s partnership-based e-commerce approach, lowering utility risk and enabling greater product and service choice for more revenue opportunity.
- Integrating instant rebate fulfillment for products in the utility’s energy efficiency program to increase conversion rates.
- Exclusive volume discounts from Bidgely’s vendor partner network, creating more value for customers without additional work on the part of the utilities.
- Pay-for-performance risk free business model in which Bidgely shares the risk and reward of program implementation with utility partners.
“Traditional marketplaces rely on consumers to change their habits and buy from an energy provider instead of large e-commerce stores that they are used to. Only a few utility rebated products fall under these marketplaces and ultimately are nothing more than another regulated energy efficiency budgeted money spend,” said Abhay Gupta, CEO of Bidgely. “Bidgely flips this model around to bring choice, freedom of channel to buy from and revenue without liability to utilities with Bidgely and its partner network. It is a similar model to United Airlines in its partner network, where, for example, they refer consumers to Marriott, not start building a hotel chain of its own to keep it all under their brand.”
Slovakia’s leading utility, Východoslovenská energetika a.s. (VSE) implemented Bidgely’s Marketplace Solution to expand its non-kWh revenue generation and create a utility-wide, omni-channel customer advisory and sales program delivered through email, web, call center and field energy advisors. The initial pilot resulted in a 100 percent increase in sales of non-commodity products like smart thermostats, efficient water heaters and home insurance, with 95 percent of customers rating VSE’s personalized communications as “useful.”
To learn more about the Bidgely Marketplace Solution, register for the live and on-demand webinar UtilityAI™: Bidgely’s Marketplace Solution for Global Utilities and Energy Retailers on July 14 at 11am Pacific time: go.bidgely.com/UtilityAI-Marketplace-Solution.
Bidgely is an AI-powered SaaS Company that enables utilities to create greater business value and accelerate our path towards zero carbon by delivering personalized customer experience. Powered by our unique patented technology, Bidgely's UtilityAI™ Platform transforms multiple dimensions of customer data - such as energy consumption, demographic, and interactions - into deeply accurate and actionable consumer energy insights. We leverage these insights to empower each customer with personalized recommendations, tailored to their individual personality and lifestyle, usage attributes, behavioral patterns, purchase propensity, and beyond. From smart thermostats to EV chargers, solar PVs or personalized / ToU tariffs, UtilityAI™ recommends new value-added products and services to the right customer at the right time. With roots in Silicon Valley, Bidgely has over 15 energy patents, $50M+ in funding, retains 30+ data scientists, and brings a passion for AI to utilities serving residential customers around the world. For more information, please visit www.bidgely.com or the Bidgely blog at https://blog.bidgely.com.