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Brand repositioning connecticut greenbank
1) The document discusses the residential solar industry in the United States and Connecticut. It analyzes the industry, consumer perceptions of solar, and identifies a communication gap between perceptions and the benefits of adopting solar. 2) The marketing objectives are to raise awareness of Connecticut Green Bank and increase adoption of residential solar by positioning Green Bank as a trusted source of information. 3) The target segment is "Solar Homes", defined as affluent and educated homeowners in Connecticut inclined towards green lifestyles. The campaign will position Green Bank as enabling customers to meet their goals by making solar seamless and affordable.
Brand repositioning connecticut greenbank
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- 3. III_INDUSTRY BACKGROUND ● Theresidential solar has crossed the 6 GW in 2014, growing 51% over 2013. ● The cost to install solar has dropped by more than 73% since 2006 ● With the reduction of federal investment tax credits, the installed capacity is forecasted to decline by 57% decline in 2017 Solar Growth in the U.S. Source: SEIA
- 4. IV_SITUATION ANALYSIS Energy Productionin the U.S. and where Connecticut Green Bank stands Source: U.S. Energy Administration
- 5. People’s perception ofsolar ◆ For the greater good of the environment ◆ Lack of understanding and awareness ◆ Complex and expensive process VI_BUSINESS PROBLEM Solar in reality ◆ Growth in asset value of property ◆ ROI of 20% and above ◆ Independence of energy as a utility, ◆ Stature and smart choice. Business problem - The communication gap between the people’s blocked perception and the prospects from the adoption of solar in reality.
- 6. V_BRAND PROMISE Connecticut Greenbank wasjust rebranded and is focusing on creating awareness of its brand promise. EMPOWERING PEOPLE
- 7. 1. Marketing Objective:Raise awareness of the Connecticut Green Bank and its “trusted source of information” positioning to increase adoption of residential solar 2. Behavioral Objective: Enquire about and adopt solar energy and talk to peers about its benefits 3. Communication Objective: Think of CGB as the starting point in their quest for clean energy solutions and feel empowered and confident about their investment VII_OBJECTIVES
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- 9. IX_CONSUMER RESEARCH I primarilypractice green behaviors to save money - not for the environment I am interested in companies with green practices I should be able to write off green purchases against income tax returns Source: Mintel
- 10. Our target caresmore about social capital and how they are perceived by their peers than the environmental benefits or cost savings. They want to be perceived as SMART & VANGUARD. X_KEY INSIGHT Source: Mintel
- 11. Solar Homes (450k) Intersectionof the national solar profile and CT solar data of affluent married couples likely with children. Solar Prospects (250k) Not represented in the CT data but good opportunity for testing. They are middle-aged with average income and likely don’t have children. Representative percentage is hispanic. Prudent Yankees (85K) Segment unique to the CT data with lower income and not likely to have a college degree. XI_SEGMENTATION
- 12. Solar Homes These highlyeducated consumers are likely to be most receptive to energy saving tips, products, and services, especially big investments like solar panels and purpose-built green homes. XII_TARGET SELECTION ● Eco-Conscious ● Social Currency ● Asset Creators ● Tech Savvy ● Affluent ● Married ● Educated ● Home Owners
- 13. TO affluent andeducated households in Connecticut inclined towards adopting a green lifestyle, Connecticut Green Bank IS the go-to resource for information and support on solar energy THAT OFFERS the most seamless and financially prudent solution. XIII_POSITIONING MAKING SOLAR SEAMLESS
- 14. ➔ Positioning: GreenBank as an enabler in meeting your goals by making solar power more seamless and affordable. ➔ Social currency: Makes them look and feel smarter in their social class. ➔ Advocacy: Word of mouth through existing customers. ➔ Community Benefits: Laying a foundation for sustainable future. XIV_MARKETING STRATEGIES
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- 16. XVIII_CHANNEL TACTICS ➔ RegionalTV commercial: What can $18000 buy? ➔ Live ticker on total energy savings on billboards in public places ➔ Print ads in lifestyle/home Improvement magazines ➔ Targeted display ads and SEM ➔ Share customer stories, testimonials on the website/social media
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- 22. ➔ New visitorsat: gosolarct.com ➔ Average time/ page views on website ➔ Click through rates on digital ads ➔ Text messages ➔ Referrals ➔ New enquiries XIX_PERFORMANCE METRICS
- 23. Thank you! Questions &Comments?