02 Nov David and Goliath(s) in the Energy Sector
There are few tougher sectors of the UK digital economy than the energy market. The Big 6, alongside their comparison site brethren dominate the space. Enormous budgets, combined with brands with decades of longevity in the psyche of households combine to make it difficult for new entrants to make an impact.
With this as a frame of reference, it was with more than a little trepidation that we took on an assignment with one of the so called ‘challenger energy brands.’ Uncharted territory for them, uncharted territory for us. Time to put our money where our mouth is we concluded, and duly cracked on. Little did we know just how ambitious the assignment would be.
It’d be fair to say that the objectives were pretty mind boggling. In less than 12 months, we had to rebrand the company, redefine the proposition, relaunch a direct to consumer offering, reposition and renegotiate with the aggregators, revamp the entire customer journey, take market share, launch a new product or two, update a customer portal and create an app. And all the while, dramatically improve the perception of the company on review sites. Not much then!
Time was tight, but we had a window of opportunity to carry out a light touch rebrand before the heavy lifting began. We chose to work with a partner creative agency to execute on the brand values identified by the leadership team and quickly worked through a number of creative routes before firming up on a fresh, bold approach:
Simultaneously, we worked through over 100 stages of the customer acquisition, experience and retention journey, from initial quote, through sign up and onboarding, to renewal or departure. This customer journey was adapted and refined to include two new products (gas and PAYG tariffs) and the website and customer portal was updated and improved considerably.
The key route to market for the company was through price comparison sites and we optimized both the commercial terms with the partners and the representation of the brand on each portal, whilst simultaneously working on promotion opportunities and smart pricing to maximise acquisition levels.