The freedom of choice in energy is more now than it has been since Edison first lid the streets and homes of the world. For most part of the 1900‘s the only regular engagement between consumers and their utility happened once a year when a person showed up to read from a meter in the basement. The point of this once a year meeting was not to meet the consumer – the utility was concerned with the meter. The direct consumer engagement the utilities were concerned with were unilateral – a letter stating how much was owed to the utility.
The utilities belong in the 1900’s – Energy Branding is the mindset of the 21st century. Today the consumer has choice when shopping for electricity. Many of them are unaware of the choice or are afraid to choose. Being free to choose is difficult after a century of no choice between a monopoly and being left in the cold and dark. Energy branding needs special insights to heal the scars left by bad service, lack of engagement and powerlessness.
No brand is greater than its perception in the mind of the consumer. Every brand is defined by the consumer and the role it plays in consumers’ minds and hearts. Branding is a mutual benefit, it creates tangible value for the company and intangible value for the customer. The first key to understand branding is to learn to understand the consumer.
Following liberalization energy retailers started carving out niches to challenge the big utilities. The niches turned out to be two: green and cheap. It is hard to maintain leadership in both categories – almost everyone is green today and nobody wants to be the cheapest but everyone offers competitive prices.
Branding is a great way to achieve something great. To get the most out of the brand, marketing is needed to deliver a message to consumers and stakeholders. A well implemented brand needs to plan its message through different channels of traditional media and social media.
As the lights are dying out for the utilities, a new generation of energy is emerging. Innovators and entrepreneurs are coming up with new ways to generate electricity and a new generation of entrepreneurs and executives is emerging with brave new ideas and brave new brands that are willing to try new ways to appeal to consumers. The future is diversity of the source of energy, the future is a diverse group of people. The future is diversity of business models, the future belongs to energy brands.