When is the best time to engage property owners in energy efficiency?

Why engage customers in energy efficiency?

Demand for energy-efficient solutions is rising. Solar panel installations have increased nearly 700% in the last four years, and heat pump deployments are also on the rise. This surge is driven by higher energy bills, government targets, and increasing incentives. By addressing the long-term needs of customers, brokers can deliver added value, which enhances brand reputation and customer retention. Additionally, there is a significant revenue opportunity, with brokers potentially earning over £700 per property from incentives provided by improvement suppliers.

Key trigger points for engagement

Engaging customers at the right time is essential for successful energy-efficient retrofitting. Several key trigger points provide natural opportunities for engagement:

• New purchases: Nearly half of Britons (47%) plan to make improvements to their homes, particularly in the first year after purchase. For example, Yopa has been innovative in engaging new buyers by sending the GreenVal retrofit tool a few weeks after the exchange of contracts. This tool is part of a welcome pack of services that enables new homeowners to view a detailed report on their property, select improvements, and get direct quotes from improvement suppliers.
• Remortgaging: This year sees a large wave of homeowners remortgaging, often facing higher rates than they are accustomed to. Habito, a mortgage broker, uses Propflo’s Portfolio Audit tool to analyse their existing customers and develop tailored messaging for those due to remortgage within the next six months. The GreenVal retrofit tool is then used to engage these customers, tracking their progress and informing them about additional borrowing needs to get the most appropriate product for their long-term requirements.
• Compliance for landlords: Although the government’s minimum energy efficiency standards for private rentals have been revised, the current standards still require properties to have at least an EPC E rating to be rented out. The government also aims for all properties to reach a C rating by 2035. Molo, primarily a buy-to-let lender, uses Propflo’s Portfolio Audit tool to identify properties at risk and engage those landlords with the GreenVal retrofit tool.

Effective engagement strategies

Successful engagement requires a strategic approach. Here are some key considerations:

• Understanding risks and opportunities: Tailoring targeting to specific segments of your customers who are most likely to retrofit is crucial. Understanding the risks and opportunities associated with your customer base will help in crafting effective engagement strategies.
• Raising awareness: Identifying where to raise awareness in your customer journey is essential. Understanding which tools and resources can be used at different points will help in creating a seamless and effective engagement process. Propflo offers a set of tools, but other options are available as well.
• Continuous engagement: Energy-efficient retrofitting is not a one-time transaction. Customers may need different improvements at various times, such as loft insulation one year, solar panels a few years later, and a heat pump when their boiler breaks down. Being there for your customers at the right time with the right financing options can create long-term relationships and opportunities for ongoing engagement.

Propflo’s tools and platforms are designed to support brokers in this endeavour, making it easier to navigate and capitalise on the growing demand for energy-efficient homes.

If you are interested and would like to know more, please reach out via contact@propflo.co.uk to get a quote.