The Client: The Retail Energy unit of a North American engineering, logistics and energy company serving 2 million customers annually.
The Challenge: Given ongoing challenges and competition in the Energy industry, company wanted to offer new retail products and services to drive accelerated growth of customers and revenue.
Key Opportunities: Improve effectiveness with customers, Generate new revenue streams
Our Approach/Findings:
We created a digital retail segmentation structure, portfolio strategy and agile execution approach that took advantage of the company’s existing customer footprint:
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Created a persona-based segmentation framework
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Used a little-noticed company asset to form initial concepts
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Designed a broad retail strategy and portfolio of digital/physical products and services based on customer journeys and field research
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Conceptualized and developed a new digital retail platform and marketing approach for the new offerings
Achievements:
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Project success used by CEO to drive new processes, tools and ways of working across the organization
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Simple and effective customer experiences became a differentiator against other utilities in the sector
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From customer discovery and research to the product portfolio roadmap and plan in 12 weeks
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Conversion rate growth of 35% quarter on quarter in first year, with marginal acquisition costs
