If we agree that digital engagement is an important channel and medium for building trust, then the natural extension is to go one layer deeper to consider the specific needs states and drivers of the segments we are targeting.
Combining channel and audience, essentially pursuing the holy grail of right product for right audience, through the right channel, at the right time and with the appropriate frequency and volume, that’s a utopian ideal and will rarely be wholly achievable, but it’s a target that all customer focused organisations ought to be aiming at.
Any credible retailer should seek to have a good understanding of the segments it has and the segments it wishes to attract. That comes from a good dose of common sense, plus insight and deep analysis of the data that you have (a picture that ought to be getting fuller and fuller as we present customers with more and more visibility and engagement). But making it relevant is the key, in the same way that a gym might do well at attracting new customers in January, but will only hang on to them in the following months (inertia notwithstanding), if it is able to remain relevant and present customers with a fitness proposition that suits their particular needs (think marathon runner versus recovery from an operation, gym classes as a social outlet vs strength training for a specific sport).
geo has developed the Accessible In Home Display (AIHD) proposition for example, in conjunction with the RNIB, by focusing on inclusivity as a design principle rather than limiting the thinking to just sight impaired needs. Through this and the development of propositions across several segments, geo has learned that intelligently thought through propositions needn’t only be relevant to the precise segment they were designed for (in terms of product functionality in this case). Thinking through needs states at different life stages will make you more relevant as a brand and a proposition to your audience and doing it well can provide you with ways to attract and then hold on to your customers when there might be other reasons to leave.
Our view is that energy brands which fail to think in this way will ultimately be consigned to “vanilla” status. And brands that do think about it and fight for a share of mind and wallet of an increasingly informed customer set, with an increasingly complex range of products and services to think about (from EV to solar to battery storage and beyond), can think about the possibility of extended tenure and value from customers who will spend more as they trust more. But the proof of that will be in delivery.
This white paper was written by geo, the UK’s leading smart energy technology company. If you would like to explore the topics discussed in this white paper in more detail, please contact the team on +44(0)1223 850 210 or by email at email@example.com.