Fresh out of the oven, Ricoh Customer Marketing Suite for Utility Companies puts hot new predictive modeling capability into the hands of utility marketers. This is one of our most exciting announcements so far this year, and we’re thrilled to share the details with you all!
The industry-first offering of behavior-based predictive models is designed to optimize marketing budgets and improve how utility companies communicate with their customers. These analytical solutions, which can be ordered ál a carte, enable utilities to slice their customer databases into targeted segments for specific marketing campaigns. It leverages the expertise that Ricoh’s Professional Services team has gained through its work with many of the world’s leading utility companies, including its award-winning implementation with the Los Angeles Department of Water & Power (LADWP).
In developing the solution, Ricoh visited with utility marketers about specific pain points they needed to overcome in communicating with their customer base. After gathering this information, Ricoh engaged multiple development partners to create an analytical suite of solutions by leveraging real-world utility data. To ensure data security, customer-sensitive data was never provided.
The Customer Marketing Suite for Utility Companies takes advantage of the customer data provided to create a standardized set of algorithms that allows utility marketers to target customers with the highest propensity to respond to various marketing communications.
The solutions address key initiatives for utilities, including: electronic adoption, renewable energy adoption, equal pay, usage, late pays and attrition. This type of predictive modeling drives greater efficacy of the models, illustrates industry trends and illuminates best practices – all features marketers seek in their marketing communications. This solution elevates them beyond simple customer communications to more relevant, targeted marketing communications, which lowers expenses and improves response results.
With these models, utility companies can reduce the amount of “offer fatigue” consumers often feel from their service providers. Predictive modeling allows marketers to see who within their portfolio is not likely to engage with an offer, thus enabling the company to exclude those customers from receiving a particular message. With the ability to identify specific, receptive audiences, utility companies can develop campaigns that maximize results while optimizing their marketing budgets.
Best of all, the Customer Marketing Suite for Utility Companies suite can be deployed very quickly. Unlike a custom model engagement that could take months, Ricoh can immediately process a customer’s data through its solution algorithms. This analytical approach is much more affordable for the utility industry compared to a custom solution.
The innovative offering takes best practice, analytical approaches leveraged in the very sophisticated banking, hospitality and insurance verticals and applies them to the utility industry.
What do you all think? We’d love to hear your thoughts on this offering and how you think it may affect the market.
Thank you!
Jay Robinson, Solutions Specialist and Mike Bryant, Worldwide Practice Manager, Strategy and Analytics


