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Customer Service Strategies and Best Practices

Taking a Next Best Action Approach to Strengthening Telecom Customer Relationships

One of the biggest challenges that telecom industry executives face is customer churn. While churn rates vary by country and by provider, annual churn rates for telecom companies average between 10 percent and 67 percent, according to the Database Marketing Institute. And while there are a variety of reasons that customers disconnect from wireless providers in particular - dissatisfaction with the quality of service, cost, poor customer support - the use of customer data and analytics is providing decision-makers with new ways to identify potential triggers for churn and opportunities to strengthen customer relationships.