podcastsinenglish Level B.77 Customer loyalty
Jan 31, 2019
Dive into the debate of whether companies should favor loyal customers or newcomers. The hosts uncover the shocking reality of higher renewal prices for loyal clients and discuss the complaint regarding loyalty penalties in key markets. They explore the implications of competition and privatization, revealing how special offers often hurt existing customers. The conversation turns to the challenges of switching brands and the idea that some may choose to pay more for stability. Tune in for a candid take on loyalty in the service industry!
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Renewal Surprise With Higher Price
- The hosts describe a subscription renewal that cost more than before and was pricier than offers for new customers.
- This personal example launches the episode's discussion about loyalty penalties in essential services.
Loyalty Penalties In Essential Markets
- Citizens Advice found many loyal customers pay higher prices in essential markets like broadband and insurance.
- A large proportion of consumers are unaware they're being charged more than new customers.
Privatisation And Cost Shifting
- The hosts link higher loyal-customer prices partly to privatisation and market complexity.
- Special offers to attract new customers must be funded, often by charging existing customers more.