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Industry news
UK tops customer churn league
Wednesday, January 09, 2008
The UK is the customer churn capital of Europe, with the worst record in retaining consumers, according to new research.
The study, carried out by Pitney Bowes Group 1 Software, reveals that customer defection rates in the UK have risen by 15 per cent since 2005, mainly in the supermarket, general insurance sectors. Mobile telecoms has witnessed a customer churn rate of 38.6 per cent.
The key reasons consumers decide to switch loyalty include not being recognised as a valuable customer, unhelpful staff and ineffective call centres.
The research also shows that customer defection rates are higher in Britain than in any other European country.
Andrew Greenyer, vice president of international marketing at Pitney Bowes Group 1 Software, comments: "As churn rates continue to grow across all industries, it is clear that we are seeing a polarisation between companies successfully adopting the techniques and technology associated with customer retention, and those who are not.
"The more successful organisations are prioritising customer profiling to identify the habitual switchers and high value customers, implemented data-driven marketing techniques to deliver relevant and timely customer communications, and drawn customer information from across the enterprise and out of legacy systems."
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