Developing New Market Territories with British Gas at MRS Utilities Summit
FlexMR’s CEO, Paul Hudson will be heading to the MRS Utilities Summit on Thursday 3rd October 2019 at Radisson Blu Edwardian in London. Speaking alongside British Gas’ Proposition Insights Manager, Paul Rostern, we will be presenting on the topic of Developing New Market Territories with Immersive and Agile Market Research. This seminar on innovative research methods showcases the success British Gas has acquired with a truly agile research experience.
Many energy suppliers find there is limited room for growth due to their operation in highly-regulated markets, so seeking opportunities in other related markets is essential if the business wants to thrive. But finding these opportunities can be tough, especially for the larger brands who are known only to their main market for one specific thing. A truly agile research experience is the key to identifying relevant new markets to expand into, as well as identifying a majority of the challenges that a brand will face along the way.
Immersive and Agile Market Research
British Gas was one of the large brands struggling to grow outside of it’s established market; in this session, Hudson and Rostern will work together to share how the brand is using agile research to establish and create opportunities in the landlord market. This is a very niche audience, and one that is very time-poor, so those two factors posed challenges straight away.
In order to research effectively, British Gas needed to create a research experience specifically tailored to the habits of landlords. With three different phases come three different research tasks: surveys, live chat focus groups, and question boards. A good mix of qualitative and quantitative research, with each phase influencing the next in the most fundamental of ways.
We surveyed 100 landlords, providing them with a myriad of product and service concepts to rate on four scales of desired attributes. This provided a great base to further refine the concepts, and a reduced number of the participants from phase one provided further insights into the behaviours and needs of landlords in phase two to influence the concepts further and develop testing stages for phase three. In the seminar, examine the findings from these phases that will shape British Gas’ commercial strategy, and assess the resulting implications for other brands in this space.
- Learn how to identify growth opportunities within strictly regulated markets
- Understand how British Gas’ commercial strategy has evolved
- Best practices to ensure you're conducting a truly agile research experience
MRS Utilities Conference 2019
A one-day event designed to showcase the latest customer insight projects from across the water and energy industry. Hear how utility companies are taking a rigorous approach to market research to drive quality and impact of customer engagement, understand how best to influence behaviour change and feed customer insight into long-term business planning and development of new propositions.
Alongside FlexMR and British Gas, utilities services such as Ofgem, United Utilities, and Southern Water are combatting key topics such as sustainability and zero carbon emissions, the journey to customer-centricity, and enhancing strategic advantages while minimising disruption with the help from market research.
This conference has been put together by The Market Research Society (MRS), the leading UK market research association. The association works for all those who need, generate or interpret the evidence for making good business and policy decisions.