1、UK Utilities Industry The impact of the energy price cap on what makes consumers tick.T talkwalker Speak to an expertJack RichardsMarketing Lead-Northern EuropeE:M:07790 650112In the midst of a cost of living crisis,and with Ofgem having implemented a price cap on the unit price of energy utilities,

2、price can no longer be a differentiator for UK energy firms.The energy crisis is unprecedented.A year ago today,4.5 million UK households were deemed to be in fuel poverty.Data predicts this figure will rise to 6.7 million.This is happening after the price cap rise in April 2022 which already saw th

3、e average bill increase by 54%.In the midst of the cost of living crisis,British consumers take to social media to share their worries,give tips on how to reduce electricity use and comment on their consumer experience with different energy providers.In this dashboard,we explore established and chal

4、lenger energy providers in the United Kingdom:Volume and engagement of conversations in the last 30 days,+forecasting Sentiment towards each brand Thematic analysis Integrated data sets,including coverage and CEO prominence Influencer identificationUK Utilities IndustryResults&Engagement Mentions of

5、 the 6 energy providers have progressively gone up with big spikes of conversations spurred from various events:Octopus offering free electrical-blankets to its most vulnerable customers,political uproar when the PM was seen wearing British Gas clothing,the creation of a state-owned provider if Labo

6、ur wins the next GE.Using our internal Blue Silk AI tech,we were able to forecast how the conversation is likely to evolve in the coming weeks.The model clearly shows that conversations will continue to gain space in the public domain with even larger peaks.UK Utilities IndustryUK Utilities Industry

7、Share of Voice The share of voice for the Utilities market is largely dominated by established providers in the UK(74.8%in total with 53.4%for British Gas only).Even though it doesnt leave much space for new contenders,one of them is on the rise.Octopus Energy is second in the market with 21.9%of sh

8、are of voice and does even better in terms of engagement with a quarter of the total.Unlike Utility Warehouse and Co-Operative Energy,Octopus appears to be a more mature disruptor.The latter,who it could be argued,has experienced growth and is now approaching its peak.Octopus is just a few percentag

9、e points behind the more established EDF and E.ON combined in terms of share of the conversation and engagement surrounding energy.The rise of this challenger is a clear example of a brand which has gotten close to the data,understood the wants and needs of consumers,and closed the gap.Those steps a

10、re now paying off massively.News Outlets&Influencers British Gas and Octopus are mentioned by a wide array of news outlets:Mirror,Guardian,Sun,Daily Mail.There is no disparity when these outlets discuss the brands current affairs.We see that the same journalists cover their news in the same articles

11、.However,we can see a clear divide in the way the two energy providers are perceived.Octopus Energy seems to benefit from more positive or neutral sentiment in the media,whereas journalists tend to be more critical towards the longer-established British Gas.This discontent can be explained by a high

12、er negative sentiment with regard to price(38.6%)and customer service(71.6%)for BG compared to Octopus(see Section 5:Sentiment).UK Utilities IndustrySentiment Sentiment analysis adds colour to the picture,with established providers spoken about more by consumers,but not necessarily favoured.Overall,

13、net sentiment for both traditional and challenger brands was more negative than not.This is without a doubt a consequence of the cost of living and doubled by the international fuel shortage caused by the war in Ukraine.The phenomenon produces an increase in consumer conversations about their worrie

14、s about the price surge,issues with customer care and alignment with the brands ethics.UK Utilities IndustryEven though the general brand perception is negative,challengers tend to perform better than their traditional counterparts.The topic analysis identified price,sustainability,customer service

15、and accessibility as key conversation drivers.Arguably,whether youre brand is new or longer-settled in the market,you will be impacted by the crisis the same,pressured to rise prices and your customers will have similar concerns.It is what you do with the data you collect that will make you stand ou

16、t.UK Utilities IndustryAlthough sentiment around accessibility is evenly distributed across the board,it is with price and customer service that we identify a departure in consumer behaviour between the two types of providers.Challengers are frequently commended for their reactivity in replying to c

17、ustomer questions,proactive attention to costs&climate and kind and thoughtful service on socials and beyond.On the other hand,what damages the brand sentiment of established suppliers is the lack of communication and response to customer requests and concerns.UK Utilities IndustryThe word clouds sh

18、ow key conversation drivers around the 2 groups of energy providers:established(top)versus challengers(bottom).We notice that the conversation is generally more negative for the first group with regular mentions of payment difficulties,customers struggling,management oversight and lack of good pract

19、ice as main topics.The second group shows a slightly more positive gradient.We find similar terms on the left side like severe weaknesses,customer vulnerability and fallen short.But we also find more positive mentions at the antipode such as free electric,save money,energy security and Octopus Energ

20、y.Sentiment Key DriversExploring the energy crisis requires more than quantitative metrics.Insights teams need to be equipped with the topics and themes that matter,to help communications teams get closer to those consumers,and marketers to adapt to the change.To drive overall decision-making,the da

21、ta needs to tell a story that closes the consumer closeness gap.In doing so,we can begin to understand why so many people are making the switch.Demographics Demographics like age and geography dont seem to have much significance other than for Utility Warehouse which has a much younger customer base

22、(95.1%under 34 yo compared to the 65%average).UK Utilities IndustryConsumer intellegence at the speed of culture.The#1 Consumer Intelligence companyThe world is changing.Consumers are more demanding,more urgent,and more unpredictable than ever,and brands are struggling to keep up.Talkwalkers leading

23、 Consumer Intelligence Acceleration Platform helps you stay ahead by turning internal and external data into consumer insights that grow your brand.We bring together everything you need to help you get closer to your consumers than ever before.Accelerated data coverage and scale integrations Market-

24、leading AI capabilities Platform services that elevate data to intelligence Deep dive human and cultural insight from our team of strategists Over 2,500 global brands trust Talkwalker,and our international team of experts,to guide them in making the most of every opportunity in this fast-paced world and accelerate their brand growth.