Switching..
Research published recently has shown that 30 customers a minute are switching energy suppliers…30 a minute that’s 12,600 in a n average 7 hour working day, 63,000 in an average week, over 250,000 in a month and a staggering 3 million a year. That’s what I call churn!
Imagine if this number were added to all those who switch banks, mobile phone suppliers and ISP’s…it’s hard to imagine the staggering amount of customers that are on the move.
It would be good to understand this ocean of motion and get to grips with the core reasons people leave or switch.
Price clearly plays a part in the process.Given that most people are inherently lazy and that “customer inertia” normally takes over if any task involving changing takes more than 3 key strokes, then there must be several “push” factors at play as well as “pull” factors.
The Push elements cover all aspects of negative service experiences and include; rudeness, failure to respond to customer calls, poor billing services and failure to take notice…the last factor can be so annoying. My own experience of constantly being ignored by my ISP threw me into the arms of another..
Pull elements are normally price orientated and often get new customers hooked only to find that the same poor service starts all over again…not always the case but often true.Sometimes the offer is just too compelling to ignore, Talk talk rings a bell here…There are of course times when offers far exceed the ability to fulfill and years of positive marketing are destroyed, who can forget the Hoover free flights offer…
I have considered switching my gas and electricity again but somehow the thought of all those key strokes or phone calls just doesn’t appeal…another cup of tea while I turn the heating up may do the trick…
What would stop you from switching?