Keppel Electric is Singapore’s first home-grown electricity retailer with over 20 years of experience powering Singapore’s electricity grid. Their 30,000 customers include multinationals, SMEs, government entities and residential consumers. When Singapore began the retail Open Electricity Market (OEM) back in April 2018, Keppel Electric had a first-mover advantage to grow its retail customer base. Within the first six months of the OEM, almost half of all households in Singapore had switched to an OEM retailer and Keppel Electric worked hard to gain the largest share of the residential consumers market with 23.4% (outside the SP Group).
After the initial rush, inertia set in and only a further 8% of residential consumers have subsequently switched. This has not stopped other OEM retailers entering the market but clearly, competition is high and margins
Keppel Electric approached Tangible to help with repositioning their brand in light of two strategic factors: 1) Keppel Electric’s objective to develop more sustainable product offers and 2) The need to create a more compelling customer experience with their Website and App. Tangible took a customer-centric approach by testing preferences with 800 households. This enabled us to better understand motivations to switch, perceptions of the existing power retailers, price points, positioning options, personality preferences (all the P’s) as well as features that users preferred to see on the App and Website.
Tangible designed a refreshed Visual Core Element system for Keppel Electric based on consumer research findings and management’s aspirations. Together with a Messaging House, the system reflected a more thoughtful approach, that customers wanted to see from electricity retailers. Leveraging research insights, best practices and a thorough review of the existing Website and App, Tangible developed the new Website and App from the ground up. This included sitemaps, wireframes, design concepts and client co-creation reviews before the final content was handed over to the coders. Tangible then prepared a full set of Brand Guidelines to ensure the consistent implementation of the new brand.
Visit: Keppel Electric