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]
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Neil Davey was previously the editor of MyCustomer from 2007 until May 2023. An experienced business journalist and editor, Neil has worked on a variety of newspapers, magazines and websites over the past 20 years, including Internet Works, CXO magazine and Business Management.
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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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