We’re sure there are some service providers out there who don’t think much beyond the sale when it comes to managing the customer experience (CX). But there is far more to the CX cycle. Successful MVNOs understand that it’s important to delight the customer at every stage of the life cycle to minimize churn and maximize profitability. That it’s far more efficient and cost-effective to create and maintain customer loyalty than it is to have to constantly refill the customer well with new subscribers.
Subscriber churn is still the biggest challenge for mobile virtual network operators and it has both a short-term and long-term impact on revenue. Not only does the MVNO lose money by being unable to recapture lost income from discounted subscriber acquisition programs and price promotions, it also loses significant customer lifetime value (CLV) by not keeping subscribers long enough to produce cross-sell and up-sell revenue. Do you have a customer experience management (CEM) strategy in place to combat churn and ensure you’re providing the best possible long-term care service to your customers?
Here are some CEM tips for optimizing the mobile subscriber experience:
Customer Lifetime Value
Higher network bandwidths and quality, smarter devices, and increased demand for new services are all providing opportunities for driving smarter subscriber engagements. With the average mobile subscriber checking their phone approximately 1500 times per week and actively using his or her device a little over three hours per day, there are lots of opportunities for MVNOs to engage with their subscribers. The trick is knowing how.