Money saving expert Don’t Waste Money (DWM) has teamed up with full-market comparison service My Utility Genius as the next step in its mission to engage the nation’s most ‘sticky’ energy customers. The partnership will mean that the Ofgem Confidence Code accredited data and technology which powers the My Utility Genius price comparison engine can be used by Don’t Waste Money, which takes a personal approach; visiting homes to provide face to face help and advice to customers who may never make the switch online.
DWM believes that a fair and competitive energy marketplace – in which engaged customers drive prices down and service levels up – is a better long-term solution for both consumers and suppliers than government imposed energy price caps. Currently, less than 18 per cent of customers switch their energy supplier or tariff each year; the least likely to switch being over-65s or low-income families. The company wants to help suppliers engage with customers whose failure to switch may be because of a reluctance or inability to use online services, or due to a general lack of trust in the marketplace and its processes. Many will have been on more expensive standard variable tariffs for three years or longer and need a switching service more tailored to their needs. The fact that My Utility Genius operates under Ofgem’s Confidence Code means that customers can rest assured that the options and prices shown to them will be calculated and displayed in a fair and accurate way.
Guy Thompson, product director at My Utility explains: “Our technology is designed to make the switching process shorter, sharper and more accurate. Our carefully verified data and cutting-edge technology means that customers can be certain they are getting the best deal and suppliers can be sure that they are fairly represented – but that alone doesn’t solve the problem of how to reach those customers who aren’t using online services. The face to face approach taken by Don’t Waste Money is currently a rarity in the energy world, but so vital for reengaging long-term disengaged customers.”
DWM representatives visit consumers in their homes or offices and guide them through the comparison process on a tablet, using a specially developed app. Should the consumer decide to make the switch, this can also be done during the face to face meeting; even business energy customers can go from comparison to completion in one sitting. The face to face meeting is followed up with after-sales care over the telephone. Trust and transparency are key to the success of this new generation of ‘doorstep switching’.
Jason Frayne, managing director of Don’t Waste Money, says: “The future of our competitive energy marketplace depends on being able to offer customers complete clarity, and a compliant switching service they can trust. My Utility Genius are the perfect partner because we have complete faith in the integrity of their marketplace data. Its ethos aligns perfectly with our own and that means that we can offer consumers the service they really deserve, while also giving suppliers a robust, low-risk solution for targeting the most hard-to-reach customers.”