There is a big shift happening in the way energy and utility companies market themselves. These companies spend about 8 percent of their revenue on marketing services—no different from the average B2B company—but they are faced with new challenges. Most notably, energy and utilities companies in the oil and gas, solar, renewable, green energy and other fields are finding their old practice of Rolodex relationship selling in a call center culture obsolete in the face of modern energy marketing strategies used to attract and retain customers. Those that use content-driven strategies are becoming particularly adept at engaging buyers and providing more value throughout the sales process.
Effective Marketing in the Digital Age Begins with a Great Brand Story
Today, consumers are much more conscious of energy efficiency and consumption. In combination with deregulation, this forces energy and utility companies to re-market themselves as providers of the best energy source, not the only energy source. Monopolistic utilities are an endangered species. Consumers are also increasingly concerned about the source of their energy and its impact on global warming. Consequently, energy and utility companies are reinventing themselves by, for example, investing in new branding and messaging that promise to combat climate change.
The status quo is not tenable. Many traditional energy and utility companies have not re-invented themselves for the digital age, and they are quickly losing ground to new competitors and technologies that are embracing content and inbound marketing techniques. Newer and more forward-thinking energy and utility companies create a brand story that positions their company in a way that evokes an emotional response—something not seen in this sector in at least a hundred years.