Half of consumers would leave their current mobile supplier in the event of a data breach, according to a survey of 2,000 UK adults by KPMG.
According to the data, half of the public would even be willing to incur a financial penalty for early termination of the contract. Security breaches were also found to make consumers twice as likely to switch providers compared to bad customer service.
However, previous cases of data leaks by mobile providers such as TalkTalk and Carphone Warehouse do not support the 50% claim. While Talk Talk did lose 9,000 customers in the quarter following the hack, the also gained an additional 48,000 mobile subscribers.
Partner and head of telco, media and technology at KPMG in the UK Alex Holt explained their findings, 'Today’s consumers love their connected lives, so their tolerance is extremely low for anything that prevents connections with the devices or services they want. Before Telcos can get a licence to up and cross sell, they’ve got to get the basics right and deliver a great connected experience.
'By focusing on building trust with their customers, there is a clear opportunity for telcos to increase revenues and become the trusted gateway for tomorrow’s connected consumer.'
Mobile as the home for the connected consumer was a prevalent theme throughout KPMG's research, discovering that 47% of consumers would consider buying a smartwatch from their mobile provider, and 33% of consumers saying they are open to quad-play offerings.