Business Customers Name Utilities as Their Most Trusted Provider

13 Utilities Named Most Trusted Business Partners

Local outreach and COVID-19 support have dramatically increased business customers’ trust in utilities. In fact, business customers now rank their utility as their most trusted provider overall, outranking their primary bank and all other vendors. The Cogent Brand Trust Index significantly increased this year (to 753 on a 1,000-point maximum scale) as more businesses use enhanced utility payment or rate options and recognize higher levels of utility support for their local economy. These and other findings are from the Cogent Syndicated Utility Trusted Brand & Customer Engagement™: Business study from Escalent, a top human behavior and analytics firm.

Utilities increased customer engagement during the pandemic, with one in five businesses changing to a different rate plan, one in seven changing how they pay their bill, and one in seven making a payment arrangement with their utility. In addition, almost two in three (61%) businesses are aware of the recent business community support efforts their utilities have made. This has reinforced business customers’ loyalty to their utility, evidenced by the loyalty rating increasing to its highest level ever in the first half of 2020.

“As the COVID-19 pandemic forced businesses to temporarily shutter their operations, businesses have trusted their providers to work with them and the business community as a whole. Utilities rose to that challenge and established themselves as trusted partners,” said Chris Oberle, senior vice president at Escalent. “Utilities immediately began supporting their customers with the enhanced offerings and economic support that business customers were seeking from a quality provider. As a result, loyalty among business customers has strengthened greatly.”

Escalent congratulates the following 13 utilities for being named Cogent Syndicated’s 2020 Most Trusted Business Partners. These utilities have demonstrated the business leadership and customer focus that have made them premier companies.

The following tables reflect benchmarking of businesses’ trust levels in their electric and natural gas utilities compared with their peers. Brand Trust Index scores are based on a 1,000-point maximum scale.

About Utility Trusted Brand & Customer Engagement™: Business

Escalent conducted surveys among 14,583 business electric, natural gas and combination utility customers of the 77 largest US utility companies (based on business customer counts). Utilities are given equal weight to balance the influence of each utility’s customers on survey results. Escalent will supply the exact wording of any survey question upon request.

For more information on the full report, click below.