Angry Customers Cost Companies $5.9 Trillion
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Even with all the data and digital aids available, companies can’t keep customers satisfied. Big Data hasn’t helped, nor has that instant feedback loop social media. The rate at which dissatisfied customers switch their product and service providers continues to rise.
That’s good news or bad news depending on your perspective because the “Switching Economy,” according to Accenture puts $5.9 trillion in play globally–every year. In the U.S., the consulting firm estimates that $1.3 trillion is up for grabs annually.