Cogent Reports: Business Customers Want Utilities to Invest in Non-core Operations

December 17, 2018

CAMBRIDGE, Mass.--(BUSINESS WIRE)--Dec 17, 2018--Signaling the need for a shift in utility priorities, 65% of businesses would like their utility to invest in activities that support building local communities and energy consumption management programs, while 62% of businesses do not believe utility investments toward improving reliability or service operations are a priority. These findings are part of the annual 2018 Utility Trusted Brand & Customer Engagement: Business™, a Cogent Reports™ study by Market Strategies International-Morpace.

Market Strategies-Morpace is proud to name 21 utilities as 2018 Business Customer Champions, an annual honor awarded to utilities that exhibit exceptional performance on Brand Trust, Service Satisfaction and Product Experience. This award is based upon obtaining top industry scores on the study’s Engaged Customer Relationship (ECR) index, which provides a 360-degree performance review of utility customer perceptions and experiences. This year’s Business Customer Champions score an average of 26 points higher than the industry average of 755 (on a 1,000-point scale) on the ECR index and are better at meeting their business customers’ desires for consumption management programs and community support.

“Businesses already rate their utilities extremely high on operational satisfaction and are pushing back on the need for greater reliability and service if it is going to cost them more,” said Chris Oberle, senior vice president at Market Strategies International-Morpace. “Customers now link the success of their business to that of their local communities and would prefer their utility partners focus on building the communities they serve and developing programs that help businesses better manage their energy consumption.”

Developing value-added programs for businesses to use is particularly important, as ECR scores grow from 755 as an industry average to 806 when customers use a consumption management program, and 804 when they use an alternative power option. Businesses that use an alternative rate plan score 785.

Congratulations to the 2018 Business Customer Champions, which have established strong engagement among their local business communities.

Below are all utility benchmark scores by region:

About Utility Trusted Brand & Customer Engagement: Business

Market Strategies conducted surveys among 10,249 business electric and combination utility customers of the 64 largest US utility companies (based on customer counts). Utilities are given equal weight to balance the influence of each utility’s customers on survey results. Market Strategies will supply the exact wording of any survey question upon request.

About Market Strategies International-Morpace

Leading market research firms Market Strategies International and Morpace bring clients closer to their customers through exceptional insights. The firms specialize in brand, customer experience, product development and segmentation research, and are known for blending primary research with data from syndicated, benchmarking and self-funded studies to help clients succeed. They have earned the trust of many of the world’s top brands across the automotive, consumer & retail, energy, financial services, health, technology and telecommunications industries. Market Strategies and Morpace are combining into one firm, as part of an acquisition of both firms by STG, and will be rebranded under a new name to be announced in 2019. With more than 450 research professionals, the collective firm is now the 15th largest market research firm in the US and top 25 globally.

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SOURCE: Market Strategies International-Morpace

Copyright Business Wire 2018.

PUB: 12/17/2018 08:00 AM/DISC: 12/17/2018 08:01 AM


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