Faraday

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AI for retail electric and gas

Today, 29 states representing over 60 million households allow consumers to choose their electricity and/or gas supplier. Providers spend on average close to $200 acquiring residential customers and yet close to half their customer base will churn after six months. Leveraging AI is the critical technology needed to reduce these acquisition cost, deepen relationships, and retain customers.

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  1. Acquire

    What markets are you selling into? Regulations vary across state lines and Faraday is able to identify the most ideal fit customers for your business model.

  2. Convert

    Trying to make sense of your lead funnel? Want to give priority to your best opportunities? Faraday can bring sanity to inbound noise by bringing the most valuable prospects to the front of the line.

  3. Engage

    What offerings are best for you to provide? We can identify using propensity scoring to see which prospects are likely to buy which of your services.

  4. Retain

    Half of your customer base will churn within six month. Learn about customer cancellation risk before it hits so you can take proactive measures.

  5. Revive

    How can you learn the reasons why you've lost business? We can look into the changes in consumer behaviour and predict those that are most likely to churn, before it happens.

The Faraday platform is core to our operations and has helped reduce costs and increase efficiency

Chief Commercial Officer, finance industry