New research released today by BT shows that “switching fatigue” is starting to set in as consumers question whether the claimed savings on offer if you switch suppliers are really all they seem.
The Switching Survey was conducted by market research agency YouGov. They interviewed more than 2,000 people who had tried switching consumer services about their experiences.
One in three people say you never save as much you expect and more than one in five say they ended up with poorer customer service and quality of product than before. Thirteen per cent said switching had not worked out well for them so they now stick with tried and trusted services or think that switching is just not worth the time and trouble.
The message ringing out loud and clear for suppliers is that value for money is what really counts when it comes to consumer choice. People were twice as likely to say that you should look at the overall service including fair prices and added extras rather than simply opting for the cheapest deal.
Gavin Patterson, BT group managing director, Consumer, said: “The irony of the switching trend is that many consumers have now been to the other side and found that the grass isn’t really greener. At least that’s what the thousands of customers who switch back to BT each week are telling us. And the reason they come back and why many more stay is because they know we’re not in the business of making wild claims about savings – but what we do offer is a service they can rely on and which makes their life easier.
“Don’t be a sorry switcher; remember to take a careful look at the benefits that you’ve got already and what you’re giving up by leaving.”
A parallel survey conducted amongst decision-makers in small and medium-sized businesses revealed they have exactly the same priorities as consumers, when making office technology and telecoms decisions.
Seventy-seven per cent rated value for money most highly compared with just six per cent who said they would opt for the cheapest deal. Seven out of ten said their purchasing decisions were influenced by their experience as a residential telecoms customer.