Study finds that poor customer experiences trigger switching services

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One of Beyond Philosophy’s mantra’s is that existing customers are much cheaper than new customers.

Why would an organisation spend vast amounts of money attracting a customer, then to provide no experience or retention scheme that would entice the customer to return. Organisations are then having to spend even more money to entice a completely new audience. We’re always on the look out for continuing reinforcement of our philosophy and we’ve found yet another study that supports this:

A new study from Satmetrix… shows that companies are wasting billions on attracting new customers through advertising whilst delivering a poor customer experience that has forced over 10 million* consumers to switch suppliers in the last six months alone. The main culprits for this switching epidemic are unfair fees or charges, poor product or service quality and rude or disinterested employees.

Read more about our philosophy and previous blog posts on the value of customer retention here

Read the original post, including a number of great statistics on the study here


Republished with author's permission from original post.

Colin Shaw
Colin is an original pioneer of Customer Experience. LinkedIn has recognized Colin as one of the ‘World's Top 150 Business Influencers’ Colin is an official LinkedIn "Top Voice", with over 280,000 followers & 80,000 subscribed to his newsletter 'Why Customers Buy'. Colin's consulting company Beyond Philosophy, was recognized by the Financial Times as ‘one of the leading consultancies’. Colin is the co-host of the highly successful Intuitive Customer podcast, which is rated in the top 2% of podcasts.

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