Brand reinvention

With nearly 40% of global CEOs concerned their company won’t be viable in 10 years’ time if they continue on their current path, the reinvention race is on.

And this has never been more intense than across the energy sector, with organizations at a pivotal juncture to embrace the energy transition or risk being left behind.

And as CEOs and leadership teams move forward – adapting business models, reallocating resources, appraising talent pools and more – in the race to reinvent their business, there’s an asset that’s being overlooked.

Your brand, one of your most valuable assets, has the potential to inspire and motivate employees, connect with customers and investors, enhance reputation, and make the difference between the winners and losers in the reinvention race.

Too often, particularly in B2B, brand is an afterthought, lagging behind the business as a constant reminder of the past. And in times of reinvention, organizations who position their brand ahead of the business as a symbol of future relevance to engage employees, customers, investors and other stakeholders, will be the winners.

Is your brand still relevant?

In a recent survey with energy businesses, 98% of leaders told us they need to adapt their brand strategy in response to the changes within the sector.

When we look across the energy sector, as the transition gains pace, everyone is on the move.

Some are ahead with a clear sense of purpose, projecting a confident relevant brand. Others are being left behind; unclear how to leverage their brand to project a future facing company that knows where it’s going.

And with new entrants changing the landscape and a more complex range of stakeholders to appeal to, how do brands stay relevant when many are struggling to shake the image of yesterday’s company?

SLB, formerly Schlumberger, wanted to amplify their position as a leader in the energy transition, emphasising their role in solving the world’s greatest balancing act – delivering more energy with less carbon. Yet their brand was rooted in the past, reflecting their heritage, not focused on the future.

The new brand repositions the business as a “Global technology company driving energy innovation for a balanced planet” strengthening relevance to existing customers, whilst enabling them to appeal to new audiences, enter new energy markets, and drive industry wide digitization and decarbonization.

For CEO’s and CMO’s there has never been a more important time to ask yourself:

— How attractive is your business to talent?
— How successful are you in winning new customers and investors?

If you can’t answer these positively, then now is the moment to reset your brand for the future.

40%

of global CEOs are concerned their company won’t be viable in 10 years’ time

98%

of energy leaders say they need to adapt their brand strategy

Three key drivers of success

1

A vision for the future

2

What do you want to be known for?

3

Telling a unified story

We work with CEOs and CMOs to build relevant, resilient brands, focusing on three key drivers of success:

1

A vision for the future

In a world of perpetual change it’s more vital than ever to have a clear vision for where you are heading.

No-one can predict the future, but by having a clear view on where you want to take the business, you’ll be more in control of your destiny. It’s incredible how many organizations allow themselves to be sidetracked by the competition, distracted by where others are going instead of putting energy into their own vision and direction.

A great place to start is by defining a purpose statement that connects what you do with what the world needs in a meaningful way. This will act as your north star to guide your decisions and actions as you move forward.

2

What do you want to be known for?

From employees and customers to investors, communities and society at large, brands have never had to work harder to be relevant across a broader range of stakeholders.

Successful brands are single minded in what they want to be known for.

What would you like employees to say when talking to family and friends? How do you want customers to describe you to a peer? What do you need investors to say to build confidence and credibility? How do you show up in your local communities?

With your purpose in mind, think about what aspects of your brand you should take forward into the future and what you should leave behind.

Defining a brand that amplifies your purpose and the value you create for your stakeholders will build relevance, recognition, and competitive advantage for your brand in the market.

3

Telling a unified story

Too often the story isn’t clear and stakeholders struggle to connect the dots. When different business areas are scrambling to market their offers and services to hit business targets, it’s not surprising different stories emerge.

It’s not about a ‘one size fits all’ approach, but a story that connects the business and the brand, which typically run on separate paths – but are much stronger when they’re together.

B2B brands are waking up to the power of storytelling, moving from rational communications to emotive stories and connecting with stakeholders on a more meaningful level.

When the business and brand are connected by a powerful story, it unlocks a level of clarity and confidence, mobilizing employees and engaging customers to propel you forward.

To talk to us about how relevant and resilient your brand is, get in touch.

Sally Bye is Managing Partner at Brandpie, and was formerly Global Brand Director at bp.

Energy

Clarity through complexity

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