Forget customer engagement, disruption, innovation and advertising. These buzzwords mean nothing for energy if they are not delivered by a well-founded branding activities.
A brand is more than a logo in the letterhead. A brand is the way the consumers defines the company based on their perception. Branding are the steps taken to create a favorable perception, a philosophy that defines the entire organization. Energy companies still need to connect to a meter in the basement but they need to know how to connect to the mind of the consumer and gain a share of their heart.
Branding energy is similar but also different from other products and services. Electricity is a commodity, so is bottled water and it‘s intangible, so are telecommunications. What is different is that people still view electricity as an un-differentiated and intangible commodity. Some consumers are burned by the lack of choice provided by monopolistic one-size-fits-all providers. They still remember long wait for lackluster service. And in some countries consumers still are vary of corruption from the past. Often they have only received a one way communication once a month when their provider has informed them how much money they owe – "you better pay or else..."
This perception of the energy companies plus the lack of knowledge of the competitive electricity market has made many consumer confused, some are not aware that they can switch while other fear of being left without electricity for days while a new provider connects them.
Electricity companies need to unwind this perception and become energy brands and begin to form an interactive relationship with consumers. The first step is to take the leap into branding to understand themselves and why they should matter for their customer.
Find out more about Energy Branding, and discuss with world leading experts at the World's First Energy Branding Conference - CHARGE, in Reykjavik in September 2016.