50% of the customers say that they switch to a different brand if their needs aren’t met.
On the contrary, customers wouldn’t change their mobile network operator over a single incident of bad connectivity issue. Similarly, even when a customer has to struggle for months to get a wrongly debited payment from their account, they are less likely to stop doing business with that bank.
While increased expectations have led customers to frequently switch brands, there are certain industries like real estate, banking, and telecom where customers stay loyal by default. Why?
https://www.business2community.com/brandviews/freshdesk/whats-stopping-your-customers-from-switching-brands-loyalty-or-lack-of-choice-02175209/
Finding it hard to keep your brand in good shape? Is your current marketing regime failing to deliver the gains you anticipated? Perhaps a bit of AI is just what you need... It has long been considered that customer churn is a painful reality of doing business. That used to be true, but nowadays it can be avoided.
A lot of brands out there are obsessed with measuring their performance by way of customer surveys. Quick question: do you suffer from ‘survey fatigue’? If your answer is ‘yes’, you can guarantee your consumers do too.
It’s just plain lazy to ask the customer about their experience when the brand already has that information buried deep within its own systems – and frankly, a little insulting. Is the customer’s time somehow less valuable? Customer feedback definitely has a role to play, but it should be part of a bigger picture.
http://www.bandt.com.au/marketing/keep-brand-fighting-fit-ai/
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