We grabbed 5 minutes with Will Bosanko, Managing Partner, Energy, at Brandpie – an independent consultancy specializing in purpose-driven transformation – to tell us about their recent Energy Report, which is still proving to be an eye opener for many in the industry.
Hi Will. Could you tell us a bit about Brandpie and your approach?
At Brandpie, we believe in the power of purpose. That is, the power of knowing and understanding why your business exists, the role you’re seeking to play in the world, and the impact you want to have as an organization. We work with CEOs and their executive teams to clarify their purpose and then connect it to the performance of their business, brand, and culture. It’s the long-term view to guide the near-term decisions.
How did your Energy Report come about?
From our work with leaders across the sector, we know the energy industry is facing greater challenge and complexity than ever before — and with it, an urgent need for transformation. It’s clear that the race is on for CMOs to define a clear role for their brand in the future energy landscape.
Our report was born from these discussions and collaborations. We spoke with over 250 energy leaders – all of whom lead organizations of over 5,000 employees. As well as our fantastic clients, we wanted to hear from voices within the industry and understand how they are navigating the transition. It was time to take stock, engage with the community, and reflect on where the energy sector and the brands within it are in this moment.
What were your expectations going into the development of the report or the research that you did? And what did you learn?
We anticipated that there would be an appetite for change. A desire for brands to get sharper, more relevant, more focused. Energy has been elevated to the top of the everyday agenda, and that of course has a knock-on effect for brands and their relationships with stakeholders.
But what we found was quite illuminating.
In our survey, 98% of leaders said they anticipate that their brand will need to adapt or evolve to meet the emerging needs of the sector. In other words: only 2% of leaders believe their energy brand today is fit for the future. Over half also said their brand is ineffective today in helping them achieve their business purpose or drive their objectives.
So, there’s a near-unanimous recognition that brand can be performing far better, can be far more meaningful to stakeholders, and can be far more connected to the overall performance and ambitions of the business. In fact, 72% of the leaders we spoke with said that brand will become critically important for them over the next 5 to 10 years.
What do these findings mean for brand leaders in the sector? How can they respond?
When the stakes are high and the clock is ticking, it can be hard to know where to start. That’s why we work with our clients in three core areas to ensure they can respond effectively.
We start by aligning your leadership team around the future vision of the business. Why do you exist, what do you hope to achieve, and how are you going to get there? We get the purpose, ambition, and strategy of the organization solid to ensure there is a clear roadmap for the journey ahead.
Then, we amplify that story through your brand. This step is about building momentum, meaning, and connection towards the goals of the business. What does your strategy mean for your stakeholders? Why is it valuable to them, and how will it set you apart from your peers? Energy is a complex world, and powerful storytelling goes a long way.
The third, no-less-important area is that of your culture. The future success and performance of the business truly lies in the hands of your people. So, how will you mobilize your talent? How will you attract and retain the best in the business? How will you ensure that they are inspired and motivated, and that you’re fostering a culture that can deliver on high ambition?
In our view, these are the strategic foundations for every leader to establish clarity through the complexity and power their progress.
So, what’s next for the report?
We’ve been so pleased with the initial response and engagement. The feedback we’ve had and the conversations this has prompted have been very encouraging, and we’re looking forward to hearing more perspectives from the CHARGE community. For anyone reading this, please download the report for free from our website and let me know what you think. We’re also about to share some brand-new insights from a recent study with over 1,000 global CEOs — so watch this space.