The rebirth of Genesis is a great case study of a business prospering in the face of intense competition, re-building a brand from the inside out, focusing on building loyalty with customers, and ultimately becoming the most collaborative and customer-focused business in the industry.
The electricity market has always been commoditised. Brands compete on price, and have few ways of differentiating themselves. As the largest player in the market, but not the lowest cost, Genesis had been steadily losing customers for a number of years.
Genesis relaunched in August 2017 with a new positioning that stems directly from customer-centricity. Genesis. With you. For you.
The relaunch was necessary. After years of complacency, customers felt unappreciated and that the industry always chased the new. In a market where switching suppliers was actively endorsed by the government, Genesis was faced with a churn rate exceeding 25%p.a. (well above the market average 21%) and declining overall market share.
In response, Genesis collaborated with their customers to create an ongoing surprise and delight platform that allows the brand to reward tenure, but most importantly, to reward loyalty. They gave their customers electricity on Genesis – a Power Shout.
Through Power Shout, Genesis began to rebuild trust, credibility and loyalty with their customers. Most importantly, they smashed all business and communications benchmarks, returning an impressive ROI.
The overall eDM open rate exceeded industry standard, redemption rate reached 171% of target and they had the highest social engagement of any social post to date. Customers felt more valued by Genesis and said they were more likely to stay with Genesis as a result of Power Shout.