Before the digital age, strategies to attract and retain customers, while never perfect, were at least relatively straightforward. Driving repeat business was a matter of segmenting customers and creating the right incentives and rewards to achieve loyalty.
Digital has changed that simple equation. In a fragmented and diffuse world, consumers have far more choice, unprecedented access to information and much higher expectations. They also find it easier to switch from one provider to another and are exercising that prerogative with increasing frequency. In fact, an Accenture survey revealed that across 10 consumer industries, one in five consumers switched providers in 2012, up 5 percent from 2011.
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