Leveraging Data to Improve Solar Customer Acquisition
Leveraging Data to Improve Solar Customer Acquisition CT Green Bank PRIZM Research, January 2015
CT SOLAR MARKET Situation:
Consumer interest is growing rapidly in the residential solar market and there are many solar system installers and contractors throughout the state that are ready to service the demand. Challenge: The market is dominated by a few well-funded manufacturers and installers. However, the majority of installers do not have access to, nor the skills required to analyze the data necessary to compete in the race to find, educate and convert prospects into customers. Opportunity: Leverage syndicated consumer data to define best opportunity market segments, develop marketing materials relevant to those segments, and target with communications designed to engage and convert.
SEGMENTATION OVERVIEW Nielsen (the Gold Standard in consumer data) analyzes billions of data points from a host of sources, and from that, combines demographic, consumer behavior, and geographic data to create 66 distinct PRIZM segments. This allows marketers to discern consumers’ likes, dislikes, lifestyles and purchase behaviors.
DEFINING THE CT SOLAR AUDIENCE SEGMENTS Step 1: Analyzed existing customer data from CT Green Bank Step 2: Fed demographics into nationally syndicated research tools to uncover customer unique profiles Step 3: Compiled data to provide actionable marketing outcomes Segment
% of Current Customers
Avg. Household Income
Avg. Age
Solar Homes
70%
$148K
44
10%
$48K
52
CT SOLAR MARKET Situation:
Consumer interest is growing rapidly in the residential solar market and there are many solar system installers and contractors throughout the state that are ready to service the demand. Challenge: The market is dominated by a few well-funded manufacturers and installers. However, the majority of installers do not have access to, nor the skills required to analyze the data necessary to compete in the race to find, educate and convert prospects into customers. Opportunity: Leverage syndicated consumer data to define best opportunity market segments, develop marketing materials relevant to those segments, and target with communications designed to engage and convert.
SEGMENTATION OVERVIEW Nielsen (the Gold Standard in consumer data) analyzes billions of data points from a host of sources, and from that, combines demographic, consumer behavior, and geographic data to create 66 distinct PRIZM segments. This allows marketers to discern consumers’ likes, dislikes, lifestyles and purchase behaviors.
DEFINING THE CT SOLAR AUDIENCE SEGMENTS Step 1: Analyzed existing customer data from CT Green Bank Step 2: Fed demographics into nationally syndicated research tools to uncover customer unique profiles Step 3: Compiled data to provide actionable marketing outcomes Segment
% of Current Customers
Avg. Household Income
Avg. Age
Solar Homes
70%
$148K
44
10%
$48K
52
