It’s never been a winning strategy but tolerating even a modicum of this mentality, today, can undermine near-term performance and jeopardize long-term success. The oil and gas industry has...
Energy Services Providers have always faced intense competition. The current energy industry is experiencing significant disruptive forces. New distributed energy resources, advances in technology, changing consumer preferences, and new entrants into the industry have resulted in the need for change.
The challenges are now exacerbated by the need to right-size, pivot and surive in this era of economic uncertainly. In addition, the development of new energy delivery models presents an existential threat to those organizations ill-prepared to address energy transition. Finally, to grow, energy services providers must find ways to innovate and exploit new market opportunities.
At Endeavor, we believe getting and keeping customers requires a clear understanding of their functional and emotional needs. For both retail and commercial energy services providers, Endeavor provides the in-depth research and market segmentation necessary to design an enchanting customer experience that will create advocates. We utilize market segmentation techniques to drive marketing and operational decision making. Our toolkit also includes a real-time customer Journey Monitor which can escalate issues for service recovery.
With the Energy Transition, renewable power takes natural energy and converts it into electricity, which has created significant changes to industry and introduced the need for battery storage. Energy retailers are now having to rethink the product they offer to customers. Simply offering a low price for electricity is no longer a compelling proposition. Instead, customers are looking to their retailer to offer greater concentration of renewable content, or deploying distributed resources like solar, storage, and fuel cells as part of the retail energy contract. This evolution of the industry necessitates new strategic partnerships in order to remain competitive and meet the needs of customers.
Endeavor can assist companies that are either already involved in the Energy Transition or wish to enter this market. Endeavor is already assisting clients to understand this new business environment which is at an early stage of evolution. In the Energy sector there is a realization that to be successful in the long-term decisions need to be made today that balance the need to support the industry as it is today and position for greater involvement in Energy Transition in the future.
Endeavor is already assisting clients to ensure they remain relevant and have a sustainable business model in the new business. The Energy Transition is upon us and change is happening rapidly. Corporate strategies and long-term decisions need to be made today on order to both maximize near term opportunities while also ensuring success in the future.
Finally, to respond to this change effectively, differentiated and innovative energy products need to be developed that promote increased customer engagement, lower churn, and enhance trust between the customer and the retail energy provider.
Endeavor is well positioned to assist Energy Services Providers as they identify and address these strategic imperatives.
Endeavor’s PlayBooks can help you
It’s never been a winning strategy but tolerating even a modicum of this mentality, today, can undermine near-term performance and jeopardize long-term success. The oil and gas industry has...
Endeavor Management Congratulates Our Partner, Blue Latitudes for winning the NSF Grant.
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