But not all REP¡¯s in the state have high trust levels among their customers. The survey shows a very large 200-point spread between the highest- and lowest-scoring providers.
¡°We know that brand trust is the basis for market share growth as customers are not likely to do business with retailers they do not trust,¡± said Chris Oberle, senior vice president at Market Strategies International. ¡°Customers also tend to be loyal to companies they trust and are also more likely to recommend those companies to others. And customer loyalty increases financial returns for these electric providers.¡±
This is the first time retailers have been benchmarked on brand trust in the Texas market, the largest deregulated electric market in the country. Another finding shows that REPs that have been able to position themselves as trusted providers also have higher customer engagement ratings. This means that REPs will be more effective at offering other value-added products and services to their customers.
¡°It is clear that after over a decade of deregulation and electric choice in Texas, retail electric providers have built brand images in the market. And some of these brands are more trusted by consumers than others are,¡± Oberle added. ¡°Consumers should only select an REP with high brand trust, as that provider will be more financially viable and they can count on it to be good to its word on the promises it makes.¡±
Market Strategies interviewed a sample of 878 Texas electric consumers aged 18+ in November 2015. Respondents were recruited from the Research Now opt-in online panel of US adults and were interviewed online. The data were weighted by age, gender and race to match the demographics of the Texas population. Due to its opt-in nature, this online panel (like most others) does not yield a random probability sample of the target population. As such, it is not possible to compute a margin of error or to statistically quantify the accuracy of projections. Market Strategies will supply the exact wording of any survey question upon request.
Anne Denz
Director, Syndicated Marketing
617.715.7611
