Brand Building Action Points
1. Be more agile
The nature of the oil and gas business—the scale of investment risk and the lengthy time horizon—understandably cultivate a deliberative culture. Future success will require competing against companies organized to move quickly.
2. Make the case for gas
It is important for the majors to make the case for gas as a transition fuel on the path to renewables. The argument that gas burns cleaner is especially important in markets like China and India that are shifting from coal. But it is also important that gas has a shelf life, despite critics, because the transition to non-carbon energy sources will take time.
3. Talk to the public
Continue to communicate with decision makers and opinion shapers, but do not neglect the public, especially in North America. When oil and gas companies are next-door neighbors, public permission to operate is much more important to brand and brand value. Companies that succeed will explain the societal value of their products and the safe and responsible character of their operations.
4. Strengthen the brand
As oil prices rebound, it is tempting to return to business-as-usual and minimize investment in the future of energy and brand building. Succumbing to these temptations could produce short-term benefits. But enhancing the organization’s brand-building expertise is a better long-term bet.