Tagged: solar

What the Solar Industry Can Teach You About Social Selling

This article was originally published on SocialTimes.

Marketers have heard the gospel and slurped the Kool-Aid when it comes to the virtues of word-of-mouth marketing. It’s become a well-established fact that consumers believe and trust recommendations from their friends and family over other forms of advertising, and that people are more likely to buy when referred by a friend.

But while many businesses struggle to turn recommendations into sales, the solar industry seems to have mastered the art of word-of-mouth marketing.

Demand for residential solar systems is skyrocketing, with 2014 marking the first year that more capacity was installed by homeowners than by non-residential customers.

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7 Proven Strategies to Acquire More Residential & Commercial Solar Customers

As demand for solar systems increases, solar manufacturers and installers are competing aggressively to acquire and convert new residential and commercial prospects. To find and covert the ideal solar customer — one based in the right state with the right credit, roof, rate plan and electricity expenses — providers are pursuing a variety of new and innovative customer acquisition techniques including digital marketing, retail partnerships, door-to-door sales, telemarketing and direct response campaigns.

These techniques attempt to maximize conversion rates while controlling costs. GTM Research estimates that residential solar customer acquisition cost installers Continue reading

Solar Sales: Phone Calls Ring In Lower Customer Acquisition Costs

It’s increasingly costly and complicated to win a new solar customer in the U.S.

Source: Vivint Solar Q4, 2014 Earning Presentation
Source: Vivint Solar Q4, 2014 Earning Presentation

According to GTM research, it costs 49 cents per watt to acquire a customer in the U.S. or about $3,000 for the typical 6-kilowatt residential rooftop. Meanwhile, a report by Lawrence Berkeley Labs estimated a cost of less than 7 cents per watt in Germany. Marketing, advertising and sales made up the majority of the cost (41 cents) while system design accounted for 8 cents per watt.

Although GTM research predicts that acquisition costs will decline as installers embrace lower-cost lead generation strategies and more efficient technology platforms, near term competition may be causing costs to increase. Continue reading