Greg Jackson of Octopus Energy in powerful conversation with Rory
Mar 13, 2024
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Greg Jackson of Octopus Energy shares secrets behind their success - from innovative technology to great marketing. Learn how EV batteries can power homes for days and how Octopus achieved 8 million customers. Explore topics like Power Pack system, integrating EVs with the grid, and innovative pricing models for renewable energy.
Innovative technology and marketing strategies drive Octopus Energy's success story.
EV batteries can power a house for 3-5 days, reflecting the growing trend in EV adoption.
Octopus Energy's customer-centric approach includes providing support beyond lowering energy bills.
Deep dives
Challenges and Solutions in the Energy Sector
The energy crisis has seen drastic increases in gas prices, requiring innovative solutions and customer support. Octopus Energy faced the challenge of doubling household bills and chose to help customers during the crisis by raising awareness and offering tips like reducing thermostat settings. The lack of resilience in fossil fuel dependency highlighted the need for renewable energy sources and better usage practices.
Empowering Customers with Renewable Energy
Octopus Energy's approach included providing discounts to customers living near wind turbines, promoting green energy usage. They revolutionized traditional price auctions, allowing customers to benefit from negative pricing during windy periods, incentivizing storage solutions. By embracing renewables and customer empowerment, Octopus Energy aimed to address the challenges in the energy sector.
Positive Impact through Customer-Centric Initiatives
Octopus Energy's dedication to supporting customers went beyond lowering energy bills, demonstrating a customer-centric approach. Initiatives like providing electric blankets to those in need showcased a compassionate response during the crisis, reflecting a commitment to social responsibility and innovative solutions in the energy sector.
Energy Saving Programs and Customer Education
The podcast episode discusses innovative energy-saving programs aiming to reduce gas bills and peak energy consumption. One program, Winter Workout, allowed participants to set gas bill targets and receive weekly updates on their progress. Over 300,000 people participated, sharing tips and saving strategies. Another program, saving sessions, incentivizes shifting energy use during peak demand, rewarding participants for adjusting consumption behaviors, like using appliances at off-peak times.
Customer-Centric Approach and International Expansion
The episode highlights Octopus Energy's customer-focused approach and global expansion. The company's unique team structure with small teams owning customer bases promotes ownership and accountability. The emphasis on customer happiness and efficient service stands out, aligning with successful brands' strategies. Octopus Energy's expansion into international markets like Japan showcases scalability and adaptation to diverse energy markets, leveraging technology platforms for seamless operations and customer service.
The Influence of Cotton Mather
Cotton Mather, a prominent figure during the colonial witch trials, played a significant role in perpetuating the belief in witches. He wrote accounts linking Mary Webster to the supernatural and promoted the idea that the colony was infested with witches. Mather's biased and fictionalized writings influenced the public's perception, leading to further witch hunts and the tragic events of the Salem Witch Trials. While public sentiment eventually turned against the witch trials, the lasting impact of Mather's influence and the mass hysteria of the time cannot be ignored.
Having read Economics at Cambridge, ex-Procter & Gamble marketer, Greg Jackson, explains the success behind Octopus, recently certified as a Which? Recommended energy provider for the 7th year in a row.
Innovative technology, great marketing and superb customer service are integral to the Octopus success story. Among the many amazing revelations in the chat with Rory, Greg points out that 65% of UK households have a car, an increasing number of which are EVs, and the battery in an EV can power a house for between 3 and 5 days.
You'll hear about the Octopus Power Pack and the Fan Club - technical and marketing ideas that have helped Octopus achieve around 8 million customers in 18 countries. This is an essential listen.
