I see a downward trend in loyalty paying off for the consumer. Just
switched from my bank of 15 years because they lied about an account
feature "we'll enable that & refund the charge, sorry", then jerked me
after 3 times in the same year from lack of said feature being "enabled"
only to be told in the end "we've never had the feature and are not
going to remove the charge this time even if it means loosing your
business".
Rot in hell BoA formerly Fleet, formerly Natwest, formerly Jersey Central.
So yes it's not loyalty that is the problem but rather greedy, deceptive
companies not earning the loyalty.
Thane Sherrington wrote:
I read an interesting quote today:
"Loyalty is dead, the experts proclaim, and the statistics seem to bear
them out. On average, US corporations now lose half their customers in
five years, half their employees in four, and half their investors in
less than one. We seem to face a future in which the only business
relationships will be opportunistic transactions between virtual
strangers."
I have noticed that customer loyalty is falling off here (but not off a
cliff), but I blame this on the fact that most businesses don't care
about their customers, and would rather make $10 right now than $5
today, and $5 next year, and so on for the next five years. Most people
have been burned so many times by so many companies that they now don't
trust anyone (although they do seem to buy into stupid advertising
tricks.) Are other people noticing a downward trend in customer loyalty?
T
