Customer retention, loyalty becomes new growth focus

Two-thirds (66%) of operators believe that customers are less loyal today than they were two years ago, according to an Amdocs-sponsored study by Informa Telecoms and Media.

 

The survey also found that 70% of operators cite customer retention and loyalty as the critical factor for driving growth, with a strategic marketing prioritization shift from customer acquisition and market share to long-term customer engagement.

 

Also, 82% said that customer loyalty programs would be "very important" or "important" to their company's strategy over the next five years.

 

Unfortunately, 65% of operators only initiate a retention program when the customer has started the process of leaving and 90% measure customer loyalty by churn rates.