Tim Biddiscombe
Tim Biddiscombe 14 October 2022

Energy & Utilities Marketing is About to Get Very Interesting…

Geopolitical turmoil is at its worst (Slava Ukrani, while we’re on the subject), much of the Western world is only now recovering from one of the hottest summers on record, and now we’re staring down the barrel this winter of a European energy crisis the likes of which consumers haven’t seen in forty years. So what does this all have to do with marketing in the Energy and Utilities sector?

In my comparatively quiet corner of the world, as Managing Director of a CX specialist agency supporting B2C organisations to have better and more meaningful relationships with their customers, I often have one eye on the present and one eye on the future. As well as one eye on the past to find object lessons to avoid, as often as I can manage it.

When thinking about the world of Energy and Utilities marketing, you are unlikely to associate it with any particularly aggressive multi-wave, multi-channel customer journey management. Don’t get me wrong, there’s is actually plenty of innovation taking place, and some particularly talented marketers out there are pulling off some very clever things.

Personalisation in Energy & Utilities Campaigns

In the old days, the complexity of a Utilities campaign might often have been as uncomplicated as personalisation based on a simple triumvirate of segments:

1) Do you have gas?

2) Do you have electricity?

3) Do you have gas and electricity?

Nowadays, with deregulation, and with it the proliferation of rates, schemes and providers the landscape is very different, even before you bring in the price comparison websites disrupting the marketplace. And therein lies the problem when you compare the current landscape with the current ‘climate’, we have what we might knowingly call a perfect storm.

Taking Steps to Avoid Customer Churn

Why do consumers change their energy plan? Well, historically, the primary reason, was because the consumer was moving house. Like the retail banks, customer relationships could be measured in decades, providing nothing upset the apple cart.

Now, with everything going on in the world having a tangible, biting impact on consumer wealth, a vast segment of people who would never have considered moving suppliers historically, are eyeing up providers, rates and plans like never before.

Utilities providers wishing to maintain, if not increase their share of the marketplace are going to have to start thinking outside the box.

Whereas once a little personalisation (think ‘Dear Timothy’) went a long way in terms of client satisfaction, nowadays, cutting edge Machine Learning (ML) coupled with real time data mapping of household energy usage against affluence models will be needed to make the difference.

More and more customers will end up moving into the retention / risk of churn groupings, and clever solutions will be needed if those customers are to be actually retained once they start looking around for competitive deals to bring down their household costs.

Compelling solutions to customers requirements, will need to be timed to trigger before they make the decision to switch providers, as without careful monitoring, by the time you become aware of a customer's intention, it can be too late to do anything about it.

If you’d like to have an open and honest conversation about whether your Customer Experience practice is the powerhouse it needs to be to drive your Energy or Utility Customer Experience forwards, we’d love to hear from you today.

It is also vital that businesses stay ahead of the curve and adopt the technology that can most help them. Read An Introduction to Successful Marketing Automation to discover the key concepts surrounding data, analysis, channels, personalisation and campaign execution.

Please login or register to add a comment.

Contribute Now!

Loving our articles? Do you have an insightful post that you want to shout about? Well, you've come to the right place! We are always looking for fresh Doughnuts to be a part of our community.

Popular Articles

See all
How to Review a Website — A Guide for Beginners

How to Review a Website — A Guide for Beginners

A company website is crucial for any business's digital marketing strategy. To keep up with the changing trends and customer buying behaviors, it's important to review and make necessary changes regularly...

Digital Doughnut Contributor
Digital Doughnut Contributor 25 March 2024
Read more
10 Factors that Influence Customer Buying Behaviour Online

10 Factors that Influence Customer Buying Behaviour Online

Now is an era where customers take the center stags influencing business strategies across industries. No business can afford to overlook factors that could either break the customer experience or even pose a risk of...

Edward Roesch
Edward Roesch 4 June 2018
Read more
10 Daily Habits That Set High-Performing Designers & Marketers Apart

10 Daily Habits That Set High-Performing Designers & Marketers Apart

Discover the 10 daily habits that elevate designers & marketers to high-performance levels. Transform your routine for success today.

Nevilson Christian
Nevilson Christian 23 April 2024
Read more
7 Reasons Why Social Media Marketing is Important For Your Business

7 Reasons Why Social Media Marketing is Important For Your Business

In the past two decades social media has become a crucial tool for marketers, enabling businesses to connect with potential customers. If your business has yet to embrace social media and you want to know why it is...

Sharron Nelson
Sharron Nelson 29 February 2024
Read more
The Impact of New Technology on Marketing

The Impact of New Technology on Marketing

Technology has impacted every part of our lives. From household chores to business disciplines and etiquette, there's a gadget or app for it. Marketing has changed dramatically over the years, but what is the...

Alex Lysak
Alex Lysak 3 April 2024
Read more