Infographic: Avoidable consumer churn costing Brit businesses billions

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New research reveals an accelerating switching epidemic that’s costing British businesses £25 billion per annum.

The study, by CallMiner found that after price, the next three reasons to switch are all related to being treated unfairly. This is counter to the British sense of fair play and falls foul of a primary need neuroscientists say is hardwired into our brains – being fairly treated.

This infographic summarises the key findings and also identifies what consumers want suppliers to do to keep them loyal. 

[Click to enlarge]

CallMiner customer churn

About Neil Davey

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Neil Davey is the managing editor of MyCustomer. An experienced business journalist and editor, Neil has worked on a variety of newspapers, magazines and websites over the past 15 years, including Internet Works, CXO magazine and Business Management. He joined Sift Media in 2007.

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17th Sep 2018 10:25

As these findings show, churn (and therefore revenues) are directly linked to the experience that brands deliver, particularly not fixing issues quickly. A key point is that in an age of ultra-competition, customers won’t come back, further damaging profits. More in our blog at https://www.eptica.com/blog/importance-customer-experience-winner-takes-...

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