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About HydroVault

HydroVault is an innovative energy storage solution that utilizes vertically pumped water to store energy. This project was created by Leon Wooldridge, a student of Design, Technology & Innovation at TU Dublin Blanchardstown.

My Role

Before working together, the company had not explored branding or marketing strategies. Leon and I collaborated to transform a practical idea into a brand.  As a marketing consultant, the following objectives were to be met :

  • Develop branding
  • Identify key market segments
  • Outline a potential route to market

Recognizing the significant brand recognition benefits of having a logo, discussed in detail by Van Grinsven and Das (2016),  we decided to make this our initial focus.

Branding

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Logo

Above are the logo and various logo designs developed for the HydroVault project. This logo was inspired by many top industry logos, which are characterized by their ability to be deconstructed into elements such as the logo symbol, the name, the font, and the font colors and still having strong brand recognition.

Brand Guidelines

A set of brand guidelines was developed to inform the creation of the PowerPoint presentation above. These guidelines include the following components:

  • Primary Colors: Royal Blue and Vivid Yellow were chosen to symbolize electricity and water, respectively. The strategic use of two primary colors aligns with best practices in branding, where 90% of successful brands utilize two primary colors to create a visually striking and memorable identity (Hubspot, 2023).
  • Secondary Colors: These colors complement the primary colors according to selected color palettes, enhancing the overall aesthetic.
  • Typography: Montserrat was selected for its clean and modern design, contributing to the brand’s visual clarity and professional appearance.
  • Core Values: The brand aims to instill confidence in customers through reliability and innovation, emphasizing the brand’s commitment to quality and forward-thinking.
  • Brand Voice: The voice of the brand is based on trustworthiness and authority, establishing consistent and concise communication with customers to foster trust and engagement.

Key Market Segments

Importance of identifying key market segments

When analyzing the Unique Value Proposition (UVP) of HydroVault, Leon and I identified several aspects of the product that could appeal to different customer segments.

 

According to a HubSpot blog (2023), catering to the needs of your customer segments can enhance the longevity and progress of your business. Satisfied customers lead to higher retention rates, increased lifetime value, and greater brand reach as they share their positive experiences within their social circles. Recognizing this, Leon and I aimed to capitalize on these benefits by analyzing the market segments thoroughly.

Key market segments and rationale

The utilities segment would find HydroVault particularly appealing due to the flexibility in location it offers, along with its resource efficiency and reduced environmental impact compared to traditional battery farms. 

The Industry/Agriculture segment would find HydroVault attractive for its potential to reduce operational costs and for its durability and ease of maintenance. These features make it an appealing choice for businesses in these sectors looking to enhance efficiency and reduce long-term expenses.

Private investors would find HydroVault attractive due to its short investment return period and the synergy between HydroVault and renewable energy farms. This flexibility allows investors to use it to complement existing renewable energy investments, maximizing the utility of the same land and enhancing overall investment efficiency.

Route to Market Document

Importance of identifying an optimal route to market

Having a well-laid-out route to market significantly enhances the efficiency of launching new products or services, as it allows for structured, strategic entry into new markets. Annushkina et al. (2020) research highlights how strategic planning in market entry can significantly impact a firm’s performance

Their research also shows businesses that carefully plan their market entry strategies are more likely to succeed because they are better prepared to handle the complexities of new markets.

Potential route to market

  1. Secure Seed Funding – Elia and Quarta (2020) highlight the importance of seed funding in providing financial support and establishing key partnerships.
  2. Product Development and Optimization
  3. Pilot Projects and Case Studies – Bond et al. (2023) discuss how pilot projects are vital for understanding project execution in real-world scenarios.
  4. Funding for Scaling Up
  5. Feedback Loop and Continuous Improvement
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