NEWS9 August 2016

Explain launches ‘confidence’ evaluation tool

Energy Finance Healthcare News UK

UK – Newcastle-based market research agency Explain has developed a tool for businesses to measure the levels of trust and confidence that their customers have in their products and services. 

Kim Davis Explain Market Research MD_crop

Explain’s Trust and Confidence Evaluation Tool measures a range of perception-based factors that influence an individual’s overall trust and confidence in a brand or organisation. This measurement of opinion differs from customer score measurements such as Net Promoter Score (NPS) and Customer Satisfaction (C-SAT) used to gauge satisfaction and propensity to recommend. 

Initially this evaluation tool will be available for regulated sectors: the water industry, the NHS, electricity and gas and financial services. Other sectors such as retail, manufacturing and housing will be added over the coming months. 

Kim Davis (pictured), Explain’s managing director said: "We know that trust and confidence has a major part to play in the purchasing behaviours of consumers of products and services. When customers select a provider of something vital to them, such as gas, electricity or even healthcare, trust and confidence will be a determining factor.  

"We have identified, through our independent research, the key factors that influence the overall trust and confidence of customers across a range of sectors. We have carried out surveys across the UK, asking individuals to rate their providers of water, gas and electricity, financial services and healthcare using a range of factors that provide a more accurate benchmark."