Swap for the savings and you will stay for the service. This is one of the messages that a well-known service provider is using to acquire customers from its competitors. It gives you a good idea of what is happening in the highly competitive and crowded telecom industry, where the strategy has significantly shifted from simply acquiring customers to keeping the customers they already have.
According to BIG Research, 85% of telecom customers would consider moving to a competitor based on bad customer service. There are few obstacles to changing service providers and customer loyalty in the industry is a real challenge.
With that in mind, the vital recipe for service providers seeking to gain competitive advantage is to focus on the customer experience, and create stronger relationships with existing customers. Based on the survey Telco Business and Investment Trends for IT, delivered by Ovum, improving customer experience is a high priority for almost 70% of respondents, but when you inquire into the specifics to see what those companies are doing, you always end up with the same response: “there are so many things to do that we need to figure out where to start.”
If that sounds familiar and you are in a similar situation, here are three tips to help keep you focused on delivering a brand differentiating experience that drives customer loyalty:
Learn more on improving CX and customer satisfaction in our white paper, Boosting Customer Loyalty and Bottom Line Results.