Study: Customer loyalty falling

A recent survey from Accenture found that companies that aren't able to identity blind spots or consumers who are "itching to switch" risk losing out on customer loyalty and satisfaction.

A recent survey from Accenture found that companies that aren't able to identity blind spots or consumers who are "itching to switch" risk losing out on customer loyalty and satisfaction.

Specifically, 66 percent of the more than 10,000 respondents from 27 countries said they switched companies (ranging from wireless phone, cable or utilities) due to poor customer service. They made these changes even as their overall satisfaction with the companies rose, citing the need to address underlying issues with customer care.

Furthermore, just 23 percent of those polled said they felt "very loyal" to their providers and 24 percent said they felt no loyalty at all.

"Companies ... are facing a customer who is increasingly willing to engage multiple providers for a service and is apt to switch quickly," said Robert Wollan, an Accenture global managing director. "Companies must better understand what really keeps their customers engaged by examining a number of overlooked, but critical points of interaction in the customer relationship."

Researchers found that wireless phone, cable and utility providers had the greatest turnover from 2010 to 2011. They also saw companies overlooking opportunities to engage with consumers via digital channels or to keep customer service promises.

MyDigitalFC adds that these real-time digital outlets are key for keeping up with customer complaints, and those that neglect this resource "can lose critical intelligence and customer loyalty."