‘The loyal customer’ doesn’t mean what it used to; while they used to stay with a company through thick and thin, loyal customers today are simply the ones that return at all. The internet provides ‘near perfect’ information to consumers, giving the ideal platform to switch providers on a regular basis if necessary. Understanding customers' reasons for switching gives businesses an important strategic advantage in planning for improved customer service, customer retention and consequently sales and profit.
Throughout 2013, NewVoiceMedia carried out an in-depth investigation into attitudes to customer service in the UK and US. Findings offer a compelling view of the consequences of poor service, with billions being transferred between businesses every year as customers switch following a bad experience. But in which nation are people quickest to switch? Where are they most impatient, and who is most likely to seek revenge through social media?