Citizens Advice have warned that loyal broadband customers are paying a premium or ‘loyalty penalty’ for sticking with their providers after their introductory rates have come to an end.
According to the charity, the cheapest broadband deals go up by £113 a year on average, once the introductory period is over, and more than one in three customers don’t realise these price increases are taking place.
It’s not just broadband where this ‘loyalty penalty’ is happening, uSwitch recently reported that UK consumers spend £3.6 billion more per year on their energy, by not switching away from their current energy supplier’s standard plans. These standard rate plans are the ‘default’ tariffs that customers are automatically placed on when they move home or when their fixed rate plan expires.
Furthermore, customers on these plans aren’t protected from price rises and, according to uSwitch, are expected to collectively pay £736 million more this year for their energy, as the industry’s major supplies raise prices.
So, it doesn’t pay to be loyal but it does pay to use MoveIt
Many customers are now becoming more aware of these expensive, standard plans and are looking to compare utility suppliers to find a cheaper tariff. To meet this demand, you can now offer your home-movers the ultimate platform to help them save on their energy, with utility switching through MoveIt in partnership with uSwitch.
With MoveIt’s utility switching, an email reminding your customers to compare energy providers and save money, will be automatically triggered to land in your home-movers’ inbox 30 days after their move and you’ll receive a referral fee for every successful switch. Which means you can sit back and watch as your agency gets a boost in bottom-line profits.