As you have seen in our other blog postings, Enerex developed SparkPlug specifically for the energy brokerage industry. A complete CRM that handles everything from lead-quote-contract, deal monitoring, commission reconciliation and payment to your agents. We built it to make brokers’ lives easier by automating all the meaningless tasks that take away your valuable time from selling and managing agents/partners. After operating the platform for more than 18 months, surveying our clients and tracking growth, we have compiled the following statistics to show our average brokers bottom line impact – and it is staggering!
Time saved per task as reported from clients (in min):
Looking for info – 3
Filling out LOAs – 3
Quote requests – 5
Quote to cust. – 15
Commission reconciliation – 30
Agent Commission – 15
Assuming £50 per hour is what an agents time is worth and £100 per hour for management, an average of 10 supplier relationship, 10 agents and 100 proposals each per year – this saved this broker £30,666.67 each year.
Second – Finding missing payments.
On average SparkPlug brokers are finding 1-4% of accounts are not being paid on by suppliers.
Assuming you serve 2,000 accounts, and just 2% of those are not being paid on, averaging 125 annual MWh per account and £4.00 broker unit margin – that’s like finding £20,000.00 of missing payments each year – putting cash back in your pocket.
Third – SparkPlug helps brokers boost YOY revenue
On average, for clients who have used SparkPlug for more than 12 months, the YOY March’18 to March’17 commissions had an average growth rate of 181%!
The average monthly growth rate for SparkPlug clients has been 8.59% per month! Using the model of serving 2,000 accounts above – that’s a revenue of £1,000,000 per year in year one, and £2,800,000 in year 2 -an increase of £1,800,000 in year over year revenue.
How did they accomplish this increase you ask? Our brokers have told us that they have been freed from meaningless tasks which have given them time to solicit additional business and bring on more agents. Part of the struggle has always been not having a sound process and commission payment tool to expand their business.
Your likely reading this and saying, “my average number of agents, brokers, suppliers, and accounts served are higher or lower”, or ”I don’t agree with the number of minutes saved per task”, but regardless, there is no question that the SparkPlug CRM has created significant value for our current growing roster of 25+ brokers.
Every broker shop is slightly different, and we enjoy learning about your specific unique selling points. We focus on learning the intricacies of your business during our demo process and would be happy to custom tailor an analysis for you. If you would like to learn more about the product and wanted to see a demo, please book an appointment at Book a demo