Carnegie Wave Energy logo
About
  • www.carnegiewave.com
  • Located in Perth, WA
  • Wave Energy Technology

Challenges

  • Communicating with vast
    array of stakeholders
  • Navigating complex
    communication landscape
  • PDFs, email and other plain

    text mediums too one
    dimensional and easily
    forgettable

Solution

  • VidCorp offered unmatched
    delivery, engagement,
    analytics and integration
    capabilities

Results

  • 65% view rate
  • 12% increase in shares
  • 3 times more eff

The perfect wave: How Carnegie rides the crest of video SMS messaging to keep global stakeholders in the know

Carnegie Wave Energy Limited (ASX-CWE) is the global owner and developer of the patented CETO wave energy technology that converts ocean swell into zero-emission renewable power and desalinated water. Based in Perth, Carnegie is the largest employer in the Australian wave energy industry.

“With the early success of our video updates, we have no doubt that we’ll continue to use VidCorp as part of our communication strategy. We look forward to sharing future updates about the progression of our underwater technology with all our shareholders!”

– Michael Ottaviano, CEO

The Challenge: Keeping stakeholders informed

For a company leading the charge on the frontier of renewable energy, communicating vital information to its array of stakeholders is an unrelenting challenge. Carnegie must keep investors, shareholders, stockbrokers, fund managers and government officials around the world on the pulse of its progress in deploying and commercialising its wave energy technology.

Additionally, Carnegie CEO, Michael Ottaviano, must navigate this complex communication landscape while juggling the other demands of leading his pioneering product to market. PDFs, email, and other plain-text mediums, while necessary for administration, are one dimensional and easily forgettable–not the ideal format for demonstrating information intrinsically linked to the company’s share price.

Carnegie’s first swim in the video ocean

The Carnegie team needed to find a communication solution that could efficiently and accurately demonstrate the company’s capabilities and advancements. They turned to the ocean for energy, and the same innovative thinking led them to video for messaging.

When implementing their video strategy, Carnegie quickly realised that to harness fully the power of video they needed functionality beyond that of what the incumbent providers could provide. YouTube was good for storing video, but its distribution and analytic tools had limitations.

The tide of technology brings Carnegie and VidCorp together

It was Michael, Carnegie’s tech-savvy CEO, who discovered VidCorp during the company’s mission to find a more potent video communications platform. VidCorp ticked all the boxes, offering unmatched delivery, engagement, analytic and integration capabilities.

With VidCorp, Carnegie could:

Track engagement metrics and completion rates per recipient

  • Identify the stakeholders who are most likely to be company advocates
  • Control the viewer experience
  • Control complementary content to shield

“What I may think is exciting information, may not necessarily excite my shareholders. A key attraction for me when using the VidCorp platform was the fact that I could see from the analytics whether or not my shareholders were engaged with my content. I can also see what content they find compelling and find out how best to communicate with each shareholder.”

– Michael Ottaviano, CEO

Putting Vidcorp to the test

It wasn’t long before Carnegie had to spread the word about an exciting breakthrough – the installation of the CETO 5 Unit. Getting the news out quickly was a priority. Immediately post lodging the announcement with the ASX a video was distributed globally using VidCorp’s personalised SMS distribution capability and an external third-party email system.The speed and efficacy of SMS (average open rate of three minutes and 98%) meant that Carnegie could ensure that its shareholders were aware of the important news before the market opened. Using VidCorp’s in-depth analytics, Michael, and his team could also track who watched the video and for how long – providing measurable ROI and useful engagement insights for the optimisation of future content.

Video SMS messaging 3x more effective than email.

Carnegie’s agile use of SMS video messaging paid dividends. Three days’ post distribution, the results were as follows:

 people who watched the video

Additionally, post the announcement, Carnegie’s share price increased significantly (12%) – a tremendous testament to Michael and his team.Carnegie’s partnership with VidCorp helped considerably to amplify the reach and results of their online campaigns, delivering exceptional stakeholder engagement during a critical sales period.

The Results

Carnegie’s partnership with VidCorp has delivered continual performance improvements for its online campaigns, with exceptional performance during Carngie’s most critical sales period:

  • 65% view rate when Carnegie used VidCorp’s SMS video feature.
  • 12% increase in Carnegie shares 3 days after on campaign.