Emerging markets usually refrains to nations in rapid growth that are catching up to become developed nations. Many of those countries have opened up to the idea of a liberalized economy and are reaping the benefits. These countries have a growing middle class and are full of opportunities for savvy investors. There is though and underdeveloped consumer market much closer to home that savvy investors and innovative entrepreneurs have found opportunities to exploit.
That is the electricity market. Though it has been liberalized in most countries for some time, consumers are yet to experience the full benefit of a deregulated market. Besides New Zealand and Australia – liberalized energy markets are rather underdeveloped in terms of modern marketing activities and especially branding.
Established companies have been fighting off niche newcomers by spending enormous amounts on big campaigns and new logos to appear as fresh as the newcomers and mimicking products and ideas. But they have slowly come to realize that more effort is needed. Marketing is not considered something that you have to do to remind consumers that you exist – but rather to form deeper bonds with current customers and for relations with future customers.
Though the branding-environment is improving – a lot is still to achieve. That opens up a gap for newcomers to fill up with better engagement and stronger relationships with consumers. Branding is not about shouting at consumers that your brand loves them – branding is about the end result of listening to consumers say that they love the brand.