Over the recent years, we have seen consumers switch their energy suppliers for reasons best known to them. Great for the gainers and awful for those energy suppliers shrinking its customer base. This article seeks to pinpoint ways suppliers can use to keep their customers and maybe reduce the number of customers switching to competitors.
So why do customers switch energy suppliers anyway? Many factors come to the spotlight that contributes to customers switching their energy suppliers. Increased competition has not had it too good for customer choice. Improved technology played a crucial role in quick service delivery and processes, which means a customer can easily switch energy suppliers. This whole thing boils down to who adds the most value to the customer and how seamless your services are.
Now let’s delve deeper into what causes consumers to switch energy suppliers.
Cheaper tariffs
It is not rocket science to understand why consumers switch energy suppliers – cheaper tariffs. They do it to save some bucks on their end. And new supplier entrants took the challenge to a greater height with their urge to build up a customer base. They do believe by offering cheaper tariffs than the overstayed competitors; they have a chance to hoodwink customers to their side. And it seems it works somehow in their favour. The upsurge moves to switch energy suppliers can attest to this. Now, how do consumers analyze tariffs from their end? ReviewsBird is one review site where energy consumers visit to find the best energy suppliers based on past client reviews and star-ratings. Consumers get a lot of insight about energy companies after reading what past clients had to say about their experience.
Energy suppliers struggle to keep their customers in the loop by offering cheaper tariffs and the best offers. Otherwise, they will face the wrath of losing customers to their competitors. Consumers fed up with end month or end year expensive bills consider switching to the better options, considering how fierce the market competition is right now.
Unmatched customer services
It is not uncommon in the energy industry to invest in attracting new customers but lose it in efforts to retain them. These industries fail to understand that it is more expensive to attract new customers through campaigns and the likes than to keep those you already have. Better customer service is one way to maintain a customer base. After all, how else can you look somewhere else when you are already receiving excellent customer attention? Such as fast customer response time, efficient billing and reporting, staff that gets out of their way to help customers, to name but a few.
Switching is seamless nowadays
Switching energy suppliers is as seamless and effortless as possible today compared to the recent past. It means doom for suppliers who depended on a more extensive customer base to close deals. Consumers have many options, and suppliers are forced to up their game lest they are discarded. And what’s more, energy firms are now offering incentives and rewards for referrals to hoodwink customers to their services. Good for consumers and doom for suppliers not upping their game!
