Here’s an idea for a service that someone should build (if it doesn’t exist already):
For the utilities that offer various plans for subscribers (mobile phone carriers, cable companies, satellite tv, power, etc) and create a system that monitors your usage and automatically switches you over to the most optimal plan for your needs.
I recently realized I was getting hit with $30 extra in fees each month on my cell phone bill because I was sending more text messages than my plan permitted. It took me almost a year to realize this though because once I chose the plan originally, I forgot about it and just paid it each month. The carriers could already dynamically move customers to the service plan that served them best but they make way too much money by relying upon people’s inefficiency. There has to be an opportunity here for a service that quietly has your back and ensures that you’re subscribed on all your utilities with the most rational plans.
Make it a free service and charge a fee as a percentage of the money it saves folks. Once it knows about your usage patterns and properly recommends the right plan, an enhancement could be recommendations for other ways to save (ie. “you appear to be renting more than 5 movies a month via iTunes, have you considered a Netflix subscription?”).
Anyone see a flaw with such a service? Does it already exist? If not, build it and I can guarantee that Mint.com would acquire and add it to their offering once it works.
Why would the companies cooperate with you if doing so would reduce their profits? Seems like an incentive NOT to cooperate with you.
Great idea, few things:
1. Unless an API from all of the utility companies were to be created it would rely on the user to enter all of their utility usage/plan information.
2. How keen would the utility companies be on creating an API that would help reduce their revenue?
3. This is something I could see fitting in with a service offering like Mint.com
I wasn’t thinking of asking permission of the utility companies – it would definitely NOT be in their best interest for this service to exist since you’d essentially be eating all their profit that came from poorly-chosen plans.
It would require building a core system that had hooks for each service to be able to extract relevant usage information (so for cell phones: minutes used, SMS messages sent, data, if there were 5 main numbers called, nights/weekend minutes, etc.). This could be achieved by scraping (although that might violate the TOS on many of the accounts).
It wouldn’t be able to rely upon users entering all this data- if they’re going to take the time to enter it, they could just as easily analyze it and make a smart decision.
sean
Just found your blog this morning – great stuff!
http://www.billshrink.com has some tools in place – cell phone and credit cards – and is working on more. It’s actually really cool, and free! And not some corporate scheme to get you to buy their product (as far as I’ve been able to find out.) Their blog also has some really good info too.
I really recommend this site – I’ve only used it for cell phone and gas – but it’s saved me about $45/mo on my cell phone bill and found me some good gas prices in Seattle and Tempe.
Only
Great idea, few things:
1. Unless an API from all of the utility companies were to be created it would rely on the user to enter all of their utility usage/plan information.
2. How keen would the utility companies be on creating an API that would help reduce their revenue?
3. This is something I could see fitting in with a service offering like Mint.com