Now that you’ve chosen your prospecting methods and your target niche market, it’s time to make a list of prospects. In order to do this effectively, you must first decide how many prospects you would like to initially target. A good rule of thumb is to start with a list that you believe you can work for several months. Track your progress and results, and then make adjustments when making your next list. Here are some proven methods to creating an ideal energy broker prospecting list:
Use the ECL
If you are working under a licensed broker, or have a license yourself, several states will grant you access to the Eligible Customer List (ECL). This list displays all commercial and residential customers, who have not opted-out, in a particular utility. The list displays lots of data on each customer, such as:
- annual energy usage (kWh or CCF)
- rate classes and codes
- account name
- service address information
- default supply or third part supply verification
- and more…
The ECL is a great place to start since you can sort the list by customer type, annual usage, and even find out if customers are still with the local utility on default supply. As your broker for help in using the ECL to develop a prospect list.
Lead Gen Companies
There are many companies who sell data on businesses that can be used to compile a prospect list. Companies such as D&B and Data Axle are great resources to purchase business data. You can filter the data by market segment, business size, annual revenue and more. D&B’s Hoover’s product even has an option to filter by annual utility cost and you can determine if the prospect rents or owns their building.
Another way of compiling a list of prospects is good ol’ Google. This might take more time than the other methods, but it allows you to hone in on actual companies you would like to target. We suggest making an Excel or Google Sheet (like this one here) to better organize your data.
If you are a seasoned energy salesperson and have a book of existing customers, the best place to start is with them. There is no better prospect than a warm referral, so asking your existing customer for 3-5 referrals each is a tried and true method for closing sales. If you have 50 existing customers and each customer offers you 3 referrals, you grew a list of 150 warm prospects over night.
If you decided that you would like to prospect in-person, then you can build your prospect list as you make in-person visits. Simply pick an area that you would like to target (try to pick a 10 mile radius to start) and spend every day in your territory. If restaurants are your niche market, go visit ever restaurant in your territory until you know every owner’s name, how much energy they use, who they use for supply, and even obtain copies of their bill. Do not leave your territory until you have turned over every rock. As you go, take detailed notes on each prospect, and slowly develop your list. You will see over time how these prospects begin to turn into new customers.