How can utility suppliers gain customers' trust?

With the cost of living crisis impacting most households and rising energy prices worrying many, it's unsurprising that customers are looking to their current utility supplier to offer a helping hand to relieve some pressure. 

With prices rising and budgets tightening, our research found that brand loyalty is waning, especially in the sectors experiencing the most significant price hikes, like utilities. Consumer trust in the utility industry is currently only 12%, which is unsurprising considering the increasingly challenging terrain the sector operates in. 

Our 1,000-consumer survey also revealed that brand switching is becoming more common. One in five admits they've switched supermarkets, energy suppliers, or mobile providers in the last 12 months. Over a fifth (22%) of customers admit that loyalty to businesses and organisations they usually buy from has fallen in recent months.

What are the top areas of importance affecting utility provider brand trust?

On the key factors influencing a consumer's decision to stick with a utility provider long-term, our data revealed these are the top areas of importance: 

• Price (41%) 

• Reliability (21%) 

• Good customer service (21%) 

• Quality of product/service (13%) 

• Trust (13%) 

So, what can be done about it?

Well, customers don't just want to feel valued; they want to see the brands they usually buy from supporting them in difficult times. How can brands build this trust? Well, customers think there are a few easy ways.

Predictably, price plays a vital part in this. Customers are looking for businesses to absorb rising supply chain costs rather than pass them onto the consumer, as well as offer suitable discounts. 

The latter provides a brilliant opportunity for marketers and companies to improve trust by helping offset rising costs through other avenues. Think about offering cost savings on meals/days out or discounts on products they frequently purchase, for example. 

Our respondents stated that their trust in brands would likely increase if brands offset the rising cost of living by absorbing some of the increasing costs through their supply chains (20%), offering discounts at relevant places (19%), and showing that they listen to and know their customers (14%).

Boosting utility customer acquisition and retention with Ello.

With households more and more concerned about how they can afford their bills this winter, it's make-or-break for utility providers. 

Ello Group can help you make a real difference to your customers and prove to them that you understand their situation and their main pressure points. We’re confident that those who put aside their own supply chain challenges and provide meaningful support, like genuinely useful discounts, could really see their loyalty improve.

So, how exactly can our water, gas and electric rewards help? Well, with our advanced tech and in depth customer behaviour analysis process, we can help to create a bespoke loyalty and rewards platform that genuinely benefits and considers the needs of your customers. Not only will this new business strategy help engage current customers, it will help you stand out amongst competitors and attract newcomers to your organisation.

Dining rewards.

In the face of the cost of living crisis, opportunities for dining out can be few and far between, with many families struggling to afford to pay full price at restaurants and cafés as often. With our dining rewards and coffee shop rewards, however, members can receive huge discounts at endless chains and indie spots throughout the UK. Think 50% off food or 25% off the total bill at restaurants and even 25% off barista-made drinks at coffee shops like Caffé Nero. 

Experience benefits.

Prove to customers that you understand the value of making memories with your loved ones by offering them our thrilling entertainment benefits. Giving little ones exciting memories to look back on as they grow up is so important, which is why there are so many iconic attractions to visit across the nation. At Ello Group, we believe everyone should have access to these destinations, which is why we’re so proud to offer such a broad range of deals on popular experiences. 

Cinema rewards.

Our tailored loyalty schemes can also include cinema rewards at a selection of the UK’s biggest chains like Vue, ODEON, Cineworld, Showcase and Picturehouse. So whether your customer is a self-proclaimed film buff or is looking for a way to keep the kids entertained on a rainy Sunday afternoon, they can save on tickets and even snacks at certain locations.