Stream: A New Face
January 7, 2015 Leave a comment
by Barbara Seale
Photo above: Stream and Ignite’s recent Ignition event.
- Founded: 2004
- Headquarters: Dallas, Texas
- Executive: President and CEO Mark “Bouncer” Schiro
- Products: Life-essential services, including electricity, natural gas, mobile phone service, identity protection, tech support and credit monitoring services.
When Stream reinvents itself, it doesn’t fool around. As it approaches its 10th anniversary, Stream settles into a new brand, redefines itself by offering new services, and jumps from seven energy markets to national scope, all in one bold move.
|Mark “Bouncer” Schiro|
The change may seem sudden to outsiders, but planning and market trials have been underway for a year and a half at Stream, which direct sellers have known as Ignite since 2005. Its army of about 270,000 independent associates built their businesses switching customers to Stream Energy—electricity and natural gas—starting in the company’s home state of Texas and then expanding as energy deregulation went into effect in Georgia, Pennsylvania, Maryland, New Jersey, Washington, D.C. and New York.
But in 2014, Stream started signaling changes. The slow progression of deregulation gave way to the introduction of a new suite of HomeLife Services, including identity theft protection, computer tech support and credit monitoring, which associates could offer throughout the country. Stream priced the services so that customers got more affordable rates with each additional service. At the same time, it rolled out its Free Energy Program, allowing customers to earn free electricity and natural gas in exchange for referring other customers. And for the last few months, it has used the Stream and Ignite logos together like the biceps on two well-muscled arms. The longest-tenured network marketing energy company in the world was sending a message: Look out. We’re changing.
Associates have been seeing the changes on the horizon for a few months, but at the company’s national convention, which has been named “Unleashed,” it launches the series of changes that will transform almost everything about it.
The changes are monumental, beginning with the brand. Stream Energy has always owned Ignite, and in January the parent brand will absorb the Ignite brand, which will no longer be used. According to President and CEO Mark “Bouncer” Schiro, the incorporation was done to unite the brands, and by using a single name it strengthens that name, which is important as the company brands all its other products. With the advent of new products, the Stream Energy brand becomes simply Stream. But the most powerful change—the one that will change the face of the company—comes in late January when Stream begins offering mobile phone service nationwide, focusing initially on NFL markets because of their large size. According to Schiro, it’s just the beginning.
“Your mobile handset is the remote control of the future,” he explains. “We are providing you a platform to purchase and control the services you need every day that you’ve already been purchasing. We are giving you a great value proposition so you can be comfortable promoting the services to your family and friends, as well as using them yourself.”
That’s key, because Stream also will expand its Free Energy concept to all its other products. Mobile is a centerpiece because it offers the opportunity to double the number of customers Stream serves within two years.
“I will be a failure as CEO of this company if I don’t have more non-energy customers than energy customers by the end of 2016,” Schiro states. “On average, there are three mobile phones per household. If I can get just 20 percent of our current customer base to switch their mobile service to Stream, that will increase our customers by 60 percent and double our customer count in the next two years.”
While Schiro prefers to talk in terms of customers rather than revenue, he notes that by the end of 2014, Stream will be knocking on the billion-dollar revenue door. Then when mobile service goes into effect, he anticipates that the company will add about 100,000 subscriptions a month, whether in mobile service, energy, or one of its other product categories.
Stream headquarters, located in the Infomart building in downtown Dallas.
Tools and Training
New products aren’t the only fuel Stream is throwing on the growth fire. It has also created “The Stream Way,” an umbrella term for the process that provides associates with step-by-step incentives and training to help and encourage them to advance in their careers. The first incentive is You and Two, which rewards new associates with an e-tablet when they recruit two additional associates whom they mentor to recruit two additional associates. The tablet, which Schiro calls their “electronic tool box,” comes loaded with business-building tools: Stream apps, their back office, a savings calculator and more that help them carry their mobile Stream business with them, ready to present at a moment’s notice. As associates gather customers, they also work their way toward receiving their own Free Energy when they have 15 customers, along with compensation on those customer bills and on recruiting. The compensation plan’s focus is on … Click here to read the full article