According to research by Accenture shoppers are readily changing their allegiances when it come to stores, banks and energy companies, with more than half switching loyalty in the last year. The research found that it is often poor customer service not just price that is making customers turn against shops and services they have used to for years. It is interesting that it’s not just the usual phone companies, gas and electricity suppliers who are feeling the hostility - its supermarkets, high street chains and online shops too.
With June 5th marking the Queen’s diamond jubilee, have the fundamental principles of loyalty changed? 60 years ago loyalty simply meant good customer service and everything else came after that. So it’s interesting to see that the research, found that poor customer service is a major hindrance to loyalty.
Businesses need to realise this issue, whilst maintaining all the other benefits that customers expect today, and look to deliver smarter, easier and more convenient customer interactions to ensure longevity of their custom.