If you are an energy broker, then you know that the industry has been growing for a while now. This means there are more competitors on the market, but unfortunately, it is common for there to be some bad energy ABCs (aggregators, brokers, and consultants) mixed into the industry. It is more important now than ever that you differentiate yourself, and you can turn this booming market growth into an opportunity for yourself. Your brokerage firm now has the ability to outperform the rest and earn lifetime customers in the process. Here’s how.
You Offer Better Energy Deals, Not Just a Better Price
One of the first things your customers will ask you about is how to get the lowest rate. If you are competing on price alone with other brokers, you may lose the battle. As you probably know, most brokers utilize the same suppliers and sometimes even have identical pricing.
What is something your firm can offer that others do not? Here are some outside-the-box ideas:
Ongoing support throughout the contract.
A unique product structure that is tailored to the customers’ needs.
Quarterly analysis to outline performance.
You Utilize Active Listening
Think about the last time you engaged with a salesperson. Did you feel like they actually listened to you? Probably not. Salespeople often assume they understand a prospect’s needs and launch into their usual pitch, without regard for the prospect’s real struggles.
Engaging your prospect about their needs, concerns, and company objectives is a great way to fully comprehend what they require from you. If you want to utilize active listening, paraphrase the prospect’s needs back to them to make sure you fully understand.
Remember that active listening is a skill that must be practiced and takes time to perfect. But once you have this technique down, you will stand out from the crowd.
You Consult Rather Than Sell
Again, think back to your last interaction with a salesperson. Did they guide you through the process of solving your problem? A consultant’s job is not to sell, but to help customers buy. You should want to be your prospect’s partner, instead of just another salesperson.
As a consultant, you work in tandem with your prospect to map out the best possible solution to their problem. This may take many different forms, but becoming a trusted consultant who is informative, honest, and objective will propel you past the competition.
You are a Market Expert
Since you are consulting instead of selling, it is time to take the next step and become a market expert. You may know your product or solution inside and out, but what will set you apart from your competition is your ability to articulate outside factors to your customers.
Establishing yourself as a market expert may be as simple as understanding a few of the following questions when mapping out your prospect’s solutions:
What factors are causing the market to rise or fall?
Are there regulatory factors in play now or in the future that may impact this customer?
Is now the optimal time to make this buying decision?
What sustainable options are currently available to offer?
How do extreme weather events impact energy rates?
You Utilize the Latest Broker Tools and Tech
It is easier than ever to grow, automate, and streamline any brokerage firm by utilizing online tools. It does not matter if you operate a one-person shop or a multi-location company, these online platforms allow you to take advantage of software that was once unobtainable. Automated pricing and contracting tools, commission tracking analytics, and streamlined renewals can now be achieved with little to no overhead.
And all of this progress means there is no better time to leave the spreadsheets behind! POWWR’s award-winning Broker360 platform has helped 1000s of brokers quickly scale their operations and has become the gold standard in broker software. Contact us today! We would love to show you around.
Bonus Tip: You Know How To Promote Your Energy Broker Brand
Congratulations! You are now a rockstar energy consultant! That means it is time to start promoting your business. The first thing to do is create a website that allows your customers to find you, learn more about your business, and contact you for your services. Platforms like WIX and Squarespace are easy to use and offer drag-and-drop templates.
Next, you should utilize POWWR’s complimentary Price to Compare website to allow your customers to instantly review energy plans and lock in a new rate. This will set you apart because your website will make it easy and simple for your customers to get their new rate quickly.
And finally, if you are not already active on social media, make sure you start posting! Specifically, we recommend LinkedIn. LinkedIn was designed for B2B professionals to network and collaborate online, and it is estimated that over 50% of B2B buyers turn to LinkedIn as a resource when conducting research. On LinkedIn, you are able to promote both yourself (through individual accounts) and your company (through business accounts) and get double the exposure. That sounds like a win-win to us!