Wireless service providers are seeing less customer satisfaction and loyalty lately, according to a study by PricewaterhouseCoopers. The company's research found most cell phone customers are switching carriers as soon as their contracts are up.
On average, subscribers are abandoning carriers after 48 months. This is an all-time low for wireless providers. The duration of customer-carrier relationships dropped nearly a year since a study in 2012 when customers stuck with brands for 59 months on average.
"Competition is fierce, and pricing is a key element," said Pierre-Alain Sur, global communications industry leader at PwC. "That accelerates the jump from one carrier to another at the end of a contract period. The business model is shifting, so they have to find a solution."
Mobile wireless brands are starting to consider new ways of doing business in the face of declining loyalty and revenues. One way they might be able to improve loyalty is through a better customer journey, writes Neil Davey for My Customer. Brands will be able to provide the best journey when they design a customer experience that considers both the logical and emotional aspects of shoppers, he explains. Creating an experience that drives value and evokes emotions could help companies develop long-standing relationships with clients.