So You Want to Build Subscriber Loyalty?
Subscriber loyalty is a critical component to the success and longevity for any Communications Service Provider’s business -- without loyalty the provider is certain to fail.
So how does a Communications Service Provider (CSP) build subscriber loyalty?
- Solid service at a competitive price – A competitive price will attract subscribers, but solid service and reliability will keep them. Your service has to work 100% of the time with fast data speeds and great voice quality.
- Subscriber convenience – Provide your subscribers with anytime/anywhere access for self-service account management, service subscription, billing and payments, usage reporting and feature control. Empower your subscribers through convenient web portals and mobile applications!
- The best customer service, EVER! – Acquisition costs are always higher than retention costs so do not skimp on customer service as it is vital to your business. Properly train your customer service team and equip them with tools and escalation procedures that empower them to quickly solve customer service issues.
- Bundle, bundle, bundle - Provide a comprehensive and complementary set of value added services that allow for revenue diversification and cross subsidization. These bundled services go a long way in helping to retain subscribers -- as you provide more and more services to the subscriber you are building more and more inertia away from migration.
When the CSP can execute on all of the above areas they will be well positioned for success in a way that ensures higher margins, improved profitability, lower OPEX, and reduced subscriber churn that serves to build brand equity and results in positive word of mouth from your subscribers.
Source: IVR Technologies, Inc.