Decisions require mental resources, and because our brains naturally seek to conserve cognitive energy, we often stick with past choices, even when we have the option to change. This tendency is evident when selecting service providers, like banks, insurance companies, and accountants, or choosing vendors, such as retail shops, petrol stations, and restaurants.
Service providers and vendors are well aware of this decision-making inertia. Banks continue to raise variable rates, insurance companies incrementally increase premiums each year, and B2B vendors may start to take long-standing customers for granted, assuming they won’t bother to switch.
By not reconsidering our past choices, we risk missing out on better opportunities—be it lower costs, improved services, or more favourable terms. Demonstrating that we are willing to make changes sends a clear message: we value good service and will not settle for less.
Who knows what we might gain by actively reassessing our options?
