CAMBRIDGE, Mass.--(BUSINESS WIRE)--Ten Texas retail electric providers (REPs) are designated Most Trusted Brands among 52 REPs measured in research published today. The research also links brand trust to greater REP market share. Half of all customers in the Texas market would prefer to do business with these most trusted brands and 40% of the customers of the most trusted retailers would stay with their provider even if they could save money by switching.
Building customer trust in their brands is especially important for Texas REPs today as the state recovers from the impacts of Hurricane Harvey. Community and customer-focused activities have twice as much impact on building REPs’ brands than offering competitive rates, so their relief support activities will not only be appreciated by Texans but rewarded with business success.
These findings are from the Cogent Reports™ 2017 Texas Retail Electric Provider Brand Trust study offered by Market Strategies International. The study measures brand trust among Texas REPs by surveying electric consumers and benchmarking providers based upon a Brand Trust index score that is derived from measuring nine unique factors. The study’s overall Brand Trust index stands at 720 (on a maximum 1,000-point scale), an increase of only one point from last year.
“Our study clearly indicates that retail electric provider customer acquisition and retention is strongly tied to their outreach efforts,” said Chris Oberle, senior vice president at Market Strategies. “The bottom line is Texans want their retailer to support them and their community during this time of need and REPs who answer that call will be rewarded with greater customer trust and long-term business success.”
The 2017 Most Trusted Texas Retail Electric Provider Brands among the 52 providers covered in the study are shown below.
|Top 10 Most Trusted Texas Retail Electric Provider Brands|
|4Change Energy||Green Mountain Energy|
|Ambit Energy||Just Energy|
|Amigo Energy||StarTex Power|
|Bounce Energy||Stream Energy|
|CPL Retail Energy||TXU Energy|
Market Strategies International is assisting Hurricane Harvey relief efforts through a donation to JJ Watt’s relief fund on YouCaring.com.
About the Texas Retail Electric Provider Brand Trust Study
The study measures Brand Trust among all Texas retail electric providers by surveying 5,881 customers and scoring 52 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 will supply the exact wording of any survey questions upon request.
About Market Strategies International
Market Strategies International is a leading provider of research and consulting services to utility management, trusted by the world’s most successful organizations to help them thrive. We blend primary research with data from our syndicated, benchmarking and self-funded studies to provide clients with exceptional research insight that helps solve their challenges. Our research specialties include brand, communications, CX, product development and segmentation. Our syndicated products, known as Cogent Reports, help clients understand the market environment, explore industry trends and monitor their brand within the competitive landscape. Founded in 1989, Market Strategies is one of the largest market research firms in the world. Read Market Strategies’ blog at FreshMR, and follow us on Facebook, Twitter and LinkedIn.