June 2, 2021
We know that it’s more expensive for businesses to acquire a new customer than it is to retain an existing one - it can cost up to 5 times more to attract new business. For companies to continue growing their businesses, smart customer retention strategies are a necessity.
Expectations on broadband providers are mounting. People want more from their networks, and customer churn is becoming a real problem for providers. Keeping customers in your ecosystem has never been more important. The advent of remote working as the norm has only magnified this problem, with people demanding more from their internet connection on a day-to-day basis.
Internet service providers (ISPs) need to nurture the customers they already have, as many customers see their current providers as interchangeable. The challenge is discovering how broadband providers can keep their customers loyal without devaluing their services in a race to the lowest price with their competitors.
All industries suffer from churn – losing customers to another company. Churn affects the telecom industry in particular, with customers often leaving for better deals when contracts expire.
Customer loyalty is vital to the survival of broadband providers. There are a variety of reasons why customers swap their broadband providers. This ranges from price to the product itself, but also a dissatisfaction with the way they’re being treated, and the support provided.
Broadband providers need to capitalize on what works. Customer churn often involves price, but there are many ways for broadband providers to improve customer loyalty through non-price differentiators, such as service quality.
Customers crave a good customer experience from their ISPs. 53% of telecoms customers say that a good customer experience plays a vital role in their decision-making when it comes to providers. The world has changed, and customers have developed new expectations in the digital, remote-working age. They now want their ISPs to:
By analyzing data through customer experience apps, you can quickly and effectively identify your key customers.
Identifying your key customers is crucial. From our experience, we know that by interrogating your existing customer data, you can identify areas of your offering that are either lacking or stand out to be focused on.
By mining the data taken from your interactions with them, you can:
We believe that segmenting your customers by their data makes it easier to identify where churn is occurring and how best to tackle it - plus continue to nurture the customers bringing in the biggest return.
We understand that customer experience has the biggest impact on customer churn for ISPs. Many customers feel providers don’t respect their time, either leaving them to wait, taking too long to resolve a problem, or having them repeat themselves too often.
Technology is key to innovation. Customer care apps let you track their experience with your company and empower you to create a tailored experience that works for them.
With the right app, you can offer better self-service and remote support for customers, improving their experience overall
ISPs must continue to adapt to changing customer needs to reduce churn and increase retention. Surveying customers during their journey, or those that have cut their service, is a good way to stay up to date with their expectations and identify ways to improve your service.
In our experience, customer churn doesn’t just come out of nowhere. Historically, the customer has been feeling either neglected or irritated for some time during their contract.
You've probably already heard a lot of lectures on the topic, but the truth is, listening to feedback is just as important as it's ever been. Listening to feedback and making those changes to your service not only prevents churn in the future but also keeps those disgruntled customers onboard. Identifying the cause of complaints and turning these issues into tangible, actionable improvements is vital.
By creating that three-step process of identification, innovation, and listening to your customers, we believe it fosters a stronger overall customer experience that helps to increase customer retention. Customer support apps play a role in each of the three sections, helping you to understand the nuances of each individual person and better tailor your service to them.
Traditional broadband support services are frustrating customers. In the digital age, more customers are looking to self-serve than ever before, but the tools aren’t there. At the same time, broadband support agents struggle to resolve issues for customers due to confusing or opaque software, creating a static, unpleasant customer journey that’s creating churn.
We’ve developed an app that’s easy to use and designed to simplify customer troubleshooting. Our device care app offers effective self-service options to customers wanting to take their support into their own hands while providing continuous customer support, 24 hours a day. Our smart app and web portal combine to fix the customer experience and increase retention for ISPs.
With interactive onboarding and remote connectivity, our device care app has been designed to be as easy to use as possible, for both agents and broadband self-serve customers.
