As we’ve discussed previously, even though switching supplier can help organisations save money, 24% of those we asked* have failed to change in the last 3 – 5 years. The same research also revealed that 43% of councils, hospitals and education facilities showed the same level of inertia. It’s important to note that some businesses may not be able to switch because they’re tied into a contract. Even so, these percentages contrast sharply with the 61% of retailers and 56% of telecoms companies that switch every 1—2 years.
*Institute of Customer Service report “Haven Power – Sustainability and customer service research” October 2017. Sample: 200 UK SME and I&C organisations
Put another way, almost half of the organisations in the public sector could be missing out on the best deals and spending more than they need to on their energy bills. According to industry regulator Ofgem (the Office of Gas and Electricity Markets), 85% of small businesses that switched in 2016 were offered or found a cheaper deal. That’s potentially thousands of pounds that could be spent on new equipment, staff or facilities.
The research also revealed that the top two factors influencing customers’ choice of supplier are:
What’s more, when asked what would help businesses be more sustainable, ‘better supplier relationships’ was the top choice for all sectors.
If you’re a business with similar views, perhaps it’s time to consider whether your current supplier is meeting your needs.
And, to complete your review, check out this blog on what to consider before switching supplier.
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