New research estimates the cost of people switching from a company because of poor customer service is worth US$47 billion in South Africa.<\/p>\n
Accenture, a provider of management consulting, technology and outsourcing services, calls it the \u201cswitching economy\u201d, and found that customers in\u00a0emerging markets are more likely to switch providers due to poor service – particularly\u00a0within the retail, banking, ISP and mobile provider industries.<\/p>\n
“Companies globally and locally have failed to meaningfully improve customer satisfaction or reverse rising switching rates among their customers,” Accenture said; this, despite having more data and insights into consumer desires and preferences.<\/p>\n
Accenture surveyed 12,867 end-consumers in 32 different countries across 10 industries, including South Africa.<\/p>\n
The research revealed that 76% of SA consumers switched service providers in the past year due to poor customer service.<\/p>\n
And 88% of SA respondents said that the company could have done something differently to prevent them from switching.<\/p>\n
In line with global findings, the survey indicates that SA customers are increasingly frustrated:<\/p>\n
South African consumers are particularly mistrusting of companies and still rely heavily on person-to-person methods of communication:<\/p>\n
Additional findings note that South\u00a0Africans have the highest share of telling their immediate circle of friends, family or associates about negative experiences with a particular company.<\/p>\n
And, unlike other emerging markets, South Africans are more likely to switch despite being offered preferential treatment or rewarded for doing business with them.<\/p>\n
SA\u2019s worst customer service revealed<\/strong><\/a><\/p>\n