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Appliance and HVAC Protection: Energy Service Providers Align Core Skills with Peace of Mind
E SOURCE, Dec 2003, Pages: 14
U.S. consumers are anxious today, and that anxiety represents an opportunity for energy service providers (ESPs). With the frenzied pace of life and work, residential customers want to eliminate problems before they happen. ESPs can ease some of their residential customers anxieties by marketing a range of products and services that provide greater peace of mind in the home.
In this first of two reports looking at residential peace-of-mind products, we examine service contracts or warranty plans covering residential appliances as well as heating and cooling equipment. To assess the status of these offerings, we reviewed dozens of utility and affiliate programs and interviewed several product managers experienced in administering and promoting appliance and HVAC protection.
Our research reveals that utilities and their affiliates continue to launch, grow, and fine-tune residential appliance protection and HVAC protection plans. These products can be stand-alone or bundled, combined with other protection plans, or offered as part of a larger suite of home services. Yet utilities considering this type of product need to be aware that local appliance and HVAC contractors may resist such a move, particularly if they offer similar warranty or service contract plans.
Though the amount of time a utility must invest in such a product before it becomes profitable will vary, some utilities report achieving profitability within two years of start-up. Whether administered in-house or offered through a third party, appliance and HVAC protection plans have the potential to not only be profitable but to enhance customer relationships also.
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