Here’s another example how the UK incompetent government wastes our money.
A while back they spent 10s of millions on their friends law firms consultancy and public sector admin to prevent vendors disadvantaging existing customers. Everyone’s but them
knows markets are free and don’t follow rules
Private sector responded as expected by finding all the flaws and legal loopholes within a few hours.
My broadband recently increased to £65 , after a week of renegotiation I got them to £35. They wouldn’t budge anymore so I cancelled the contract . Just re signed up today to the exact sane product for £15.
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Had similar with vehicle insurance renewal, they wanted to up it by £65 but we're only going to reduce that by half after I queried the increase..
Went in as a new customer with their online deal, same policy number etc and the whole thing reduced by £105 from the stated renewal figure..
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The focus of the last decade or more has been "New Business".
So when Dickhead Sales Director (DSD) reports to the Board, "We generated 100K new customers", it sounds really impressive.
Sure, someone might ask a pesky question like "How many did we lose?", and they might be told "25K", and in the same breath DSD then says "So we gained 75K overall. 75K of new business and growth. The 25K were dead wood. They found other offers elsewhere. Fuck 'em. Let's focus on our new 75K".
Shareholders see a report showing 75K new customers. They get the warm fuzzies. DSD gets a bonus. Everyone is happy. Well, apart from the 25K customers they lost, but hey, fuck those guys. They're dead wood, right ?
Retention is not where it is at anymore. Far too much hard work maintaining a service. Far easier to dangle carrots and discounts. All to make up those ever important "new growth" numbers.
Get 'em in, chew 'em up, spit 'em out.
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We just use a calendar reminder to call to cancel our ISP and cellphone contracts when they come to an end. A quick 10 minute chat and he's signed right back up at the same or better price. Not too much to review contracts every couple of years either, so it works for us. |
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