Texas retail electric providers (REPs) are hitting a home run when it comes to brand trust. Market Strategies announces nine Texas REPs as Most Trusted Utility Brands for 2018. The level of trust among these Texas REPs is unprecedented, and they are reaping the reward with a highly loyal customer base. These and other findings can be found in the 2018 Texas Retail Electric Provider Trusted Brand Study™, a Cogent Reports™ study by Market Strategies International-Morpace.
A significant highlight of the findings is that Texas REPs have developed customer trust to the highest level ever recorded by the study, and the level of loyalty has grown as well. More good news for brands in this category, their customers are very happy and 93% are willing to recommend the brands to friends and family. Brand Trust scoring is based on Texas REP customer responses to questions that include brand health, service quality and value. The overall Texas REP Brand Trust score increased 17 points from last year, to 735 (on a 1,000-point scale).
“Cultivating trust is one of the most important elements of creating a loyal consumer base that is willing to advocate on your behalf. Trusted brands follow through on their promises to provide high-quality service at competitive prices, offer value-added services, and consistent outreach to the customers and communities they serve,” said Chris Oberle, senior vice president, Market Strategies International-Morpace. “On the other hand, our research shows that REPs with lower brand trust will be financially challenged, as they attract rate-shopping customers who are likely to leave them if they don’t continue to offer the lowest rates.”
Below are the 2018 Texas Retail Electric Provider Brand Trust performances by customer trust level and REP size segment. Market Strategies International-Morpace would like to congratulate this year’s nine Most Trusted Brands among Texas REPs!
The study measures Brand Trust among 88% of the Texas retail electric provider customers by surveying 5,571 customers across 53 providers based upon a data-driven brand trust model. The Brand Trust model comprises nine factors: community support, customer focus, communications effectiveness, environmental dedication, local reputation, reliable quality, competitive rates, enhanced offerings, and billing and customer service. The study collects a demographically representative sample across all Texas service territories open for retail electric competition. Market Strategies-Morpace will supply the exact wording of any survey question upon request.
Click below for more information on the study.