Octopus is on a mission to bring fair energy pricing to everyone
The UK energy market has been dominated by six big energy firms for years, using that dominance to offer below average consumer service, non competitive prices and little innovation around the technologies needed to promote a green energy revolution.
With this backdrop of poor customer service OFGEM deregulated the market in 2006 to promote competition and now there are over 70 suppliers to choose from.
At the start of 2019 Octopus set itself apart from this untrusted marketplace by building creative that leveraged its status as the only energy supplier recommended by consumer champions Which?
ITV worked with Octopus Energy from June 2019, devising and then executing a TV marketing plan to drive new
customers and build the Octopus brand.
Phase 1
We worked alongside Octopus to create a test and learn approach to their TV campaign, running an initial UK ex NI network campaign burst of 300 tvrs to achieve 25% 4+ Cover plan to drive brand response. Utilising the more cost effective months of the year of June / July 2019, the campaign featured a 20 second creative, advertising
Octopus as the only “Which Recommended” energy supplier.
Strong Strong creative and heavyweight presence
30% weekly website traffic tracking 30% above average during the first burst of ITV activity
Octopus Energy is a brand for anyone looking for cheaper, greener power with exceptional customer service, as evidenced by our Which? recommendation. We were inspired to trial TV advertising by the sheer size and scale of ITV, its ability to target a truly national and mass market audience and of course, it’s flexibility and forward thinking media strategies. The results speak for themselves.Rebecca Dibb-Simkin Product and Marketing Director Octopus Energy
Phase 2
Phase 2 of the plan consisted of a pulsed and repetitive on and off strategy across October & November, to help stretch budget returns and maintain a front of mind presence across the key Autumn switching period.
Phase 2 results
The second phase increased the campaign reach a further 6%, driving total reach to 72% of all adults (35.8m) and saw a continued increase in direct site traffic.
Phase 3 2020 H1
Further analysis from Octopus Energy’s team showed some ITV regions were significantly more cost effective than others at delivering a low cost per quote ratio so in 2020 we started to strategically target those key ITV regions, whilst also introducing sponsorship into the media mix.
Phase 3 and results:
Investment in ITV activity has consistently delivered strong results for Octopus Energy, driving site traffic, customer acquisitions & brand awareness. The ITV campaign has been a strong factor in an innovative marketing mix which during the period,has delivered the following long term benefits:
A significant increase in Google searches over the period. When Octopus Energy started to advertise on ITV in June 2019 there was an immediate hockey stick moment that was sustained and since then Octopus Energy has pulled away from, and maintained a gap between themselves and key competitors.
1m Over the last two years, Octopus Energy has added one 1 million new customers to the brand and achieved Unicorn status.
4.9%
Octopus Energy has nearly doubled its market share from 2.5% of the domestic energy market in
Q2 2019 to 4.9% in Q1 2020. Source: Ofgem 2020
Search A significant increase in Google searches over the period.
