has a mission of energy freedom where they want to create freedom for their
customer, communities, people and country to make greater choices for better
use of energy now and in future with a long-term goal of becoming the leaders
in the industry to support sustainable future.
Market trends: according to
the electricity authority government of New Zealand the market share of the
mercury is 18.95% which is 398,596 customers making them the third retail
company of New Zealand where genesis energy is on the 1st by having share of
24.33% (511,789) followed by contact energy on number 2 with market share of
20.22%(425,263) these statistics were put out on 31st October 2017 by recording
the installation control point meter (ICP). After doing research on the market
trends of mercury energy it is seen that it had 16.34% share which consists of
approximately 297,348 for the year 2003. Which increased in the very next year
to 16.54% and had a rapid growth till the year June 2010 when they had
approximately 436,522 customers which is nearly 20.25% after which there were
in and out of many customers leading them to its current position of number 3
with 18.95% share. (Electricity authority, 2017)
Company’s current marketing
Free Power Day – Mercury periodically provides its customers Free
Power Days as a thank you gesture for choosing them and thereby renewable
energy, so they can make the most of the free power day
Customer led focus and innovation – Mercury believes in
contributing to its consumers as well as the country by doing innovation which
is in the interest of both. It keeps itself connected with the customers by its
award-winning contact centre team and sales team.
Air points Dollars – Mercury provides a reward to its customers
for paying their electricity bills or when they spend on any other facility
provided by the company. Customers can redeem these Air points at various
partners with Mercury.
Fixed Price Contracts – The company also provides fixed price
contracts which is for a minimum period of two years. A customer can enjoy
facilities on the same price without worrying about price fluctuations.
EVs and E-Bikes – they have an affiliated marketing strategy where
they are proud member of EV100 to reduce the carbon emission and that’s why
have a tie-up with E-retailers. E-Bikes are a perfect way to stay fit while
beating traffic congestions and parking cost. The company gives discounts of up
to $500 to promote E-bikes among the customers. Mercury also promotes the use
of E-Vehicles or EVs which cost as low as equivalent of 30c per litre of fuel.
Solar panels: Giving a lower rate of 12 cents per KWH for the
consumer who plan to install solar panels on the roof of their house with the
minimum quote starting from $4995 which generates 1593 Kwh per year.
Prepay power: it also does prepay power through
Globug same as prepay mobile where the customer can anytime top their power
through mobile application. It is easy to use and monitors the usage of power
though the cost of the units is higher as compared to the post-pay and is been
recommended for people with bad credit or people who find it difficult to pay
on time bill.
sales volume for 2017 is 5764 GWH and has increased by 3.1%. it had 19%
generation and 14%sales. Mercury is going to return $270 million overall to its
shareholders which are almost 90k. mercury has supplied 3,000 E-bikes and
compared to the previous years the sale has doubled for E-bikes with the $500
discount. Mercury’s sale teams have won many prestigious awards this year which
also consist of top customer relationship management award, followed by best
inbound sales. The sales team of the company creates a positive impact on the
customers. The team says that the customer satisfaction score is 64% in
residential area and 89% in industrial where most of its customer giving score
of 8,9 or 10 out of 10 which highly recommends others as word of mouth is
usually preferred by people the statistics say that 70% of consumers trust
recommendations. 70% employees confirm that customer feedback is been taken and
things work on it compared to its last year of 2016, it also says that
employees recommending its company count 81% of which was 77% in the last year.
Mercury is earning a good revenue apart from providing electricity that is on
metering, sale of extra carbon units earned them $5 million after cutting the
expenses and by outsourcing maintenance part. There is also hike in the solar
business. Sales to the customer for 2017 is 4606. 2016 is 4397. 2015 is 4486
and 2014 is 4844(GWH) so trend is going up and down of which compared to the
last year it is higher. The income earned by sales in 2017 is $1553 M compared
to its last year of $1511 M
mercury has a current target market where it wants to capture 850,000 customers
of which it has approximately 392k customers. The target population for mercury
are the bill payers and middle class who make monthly budget. The current
market of mercury is 345,653
in residential 41,167 commercial, 2,073 industrial and 2,819 spots. It has
2,181 solar customers.