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The Value of Brand Trust to Utilities
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In competitive markets, brand strength has long been associated with positive business outcomes, including growing revenue through increased market share, elevated pricing power and higher customer loyalty. While market share and customer loyalty haven’t historically been things utilities think about, they are taking on a new strategic importance as the tectonic plates underpinning the 21st century energy market continue to shift.
Utilities are beginning to manage their brands to support the new market challenges they face—from implementing new rate structures to figuring out how to sustain financial growth. Successfully navigating these challenges requires strong brands with enough emotional leverage to persuade consumers to come along on the journey to a new energy future.
Our Utility Trusted Brand & Customer Engagement study, now in its sixth year, focuses on the impact of brand on customer engagement for the utility industry, making Market Strategies-Morpace the undisputed leader in brand insights for utilities. Through this research, we’ve identified three elements of brand value for utilities:
- Enhanced pricing power via customer support for higher rates.
- Revenue growth by capturing market share for new product offerings not protected by the utility’s monopoly position.
- Lower risk of customer and load defection as customers consider distributed energy resources and dis-intermediators.
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Consumer & Retail RSS FeedGet via email
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Energy RSS FeedGet via email
The Value of Brand Trust to Utilities
Insights Powered by Cogent Reports™ In competitive markets, brand strength has long been associated with positive business outcomes, including growing revenue through increased market share, elevated pricing power and higher customer loyalty. While market share and customer loyalty haven’t … Continue reading
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Every impression counts when promoting and maintaining a successful business, and managing your brand identity is a major factor in that success. Whether it’s your logo, your website or your business cards, your customers build an impression of your company … Continue reading
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Financial Services RSS FeedGet via email
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Life Sciences RSS FeedGet via email
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Telecommunications RSS Feed Get via email
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