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By now, everyone from shop floor worker to CEO intuitively understands that saving energy delivers dollars to the bottom line. But cost avoidance only begins to showcase the benefits of modern energy efficiency technologies. Non-economic benefits of energy efficiency often accompany financial savings.
Your electric company wants you to use less electricity – and you might want to participate in this, as it really is in your company’s best interest from a competitive perspective.
Businesses today need to make customer experience a priority if they want to maximize their long-term success. To do so not only requires companies to analyze and improve how they interact with customers, but also to take a closer look at the company’s internal culture and mission and see how that aligns with what customers want.
Contrary to what it may feel like when you open your monthly utility bill, energy utilities are not always at odds with your business.
With so many companies developing and marketing new energy efficient technologies each year, it can be difficult to digest and determine the best fit for your business. As a rule of thumb, before buying any type of new equipment, deploy an energy analytics software solution to understand where your inefficiencies and energy cost drivers lie. Once you can ascribe energy costs to specific processes and pieces of equipment, you will be in a better position to evaluate and prioritize the various energy efficiency measures for your specific building(s).
The growth of business data presents significant opportunities to make more informed decisions, yet many organizations are still not taking advantage of this opportunity.
Rather than constantly looking for new customers to help improve their energy management, energy services companies can improve their bottom line by becoming more deeply embedded with existing customers so that that they have more recurring revenue.
In addition to providing quality customer service and providing services as expected by clients, businesses can gain customer loyalty by solving their problems. Whether the issue is directly caused by the company or is a result of something more in the customer’s control, companies that can both diagnose and remedy issues end up helping themselves, such as by gaining repeat business or referrals.
When companies cut costs, they often end up doing so in ways that ultimately hurt the company. By trimming budgets in departments such as sales, marketing and product development, or in categories like employee benefits and travel expenses, they reduce a variable cost only to put their long-term revenue at risk.
High Connecticut electric rates put financial pressure on local businesses, and it can be frustrating to see that most other states have lower energy costs. However, businesses do not have to take a back seat to what happens to Connecticut electric rates. By getting involved with legislators, advancing sustainable energy and practicing strong energy management, organizations can help make the state’s energy picture more attractive.