Two out of Three Consumers Switched Companies in 2011



NEW YORK, Jan. 31, 2012 – Two out of three (66 percent) consumers switched companies –  including wireless phone, cable and utilities – as a result of poor customer service in 2011 even as their satisfaction with the services provided by those companies arose, according to new research in 27 countries and 10 industries released today by Accenture (NYSE: ACN). The research findings pose new challenges for marketers as they focus on building customer loyalty and improving market share in a very competitive business environment.

Among the 10,000 consumers who responded, the proportion of those who switched companies for any reason between 2010 and 2011 rose in eight of the 10 industries included in the survey. Wireless phone, cable and gas/electric utilities providers each experienced the greatest increase in consumer switching – five percentage points. This includes consumers who switched entirely to another provider as well as those who continued to do business with their current provider but added services from another provider – a new, but growing trend. According to the survey, customer switching also increased by 4 percent in 2011 in the wireline phone and internet service sectors.

Wow! You need to create value to prevent this….do contact Customer Value Foundation for help in Total Customer Value Management and see how GE, Tatas, Godrej, Disney, Mercedes Benz, Banks, Telecom companies have benefitted from our help

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