Relationships rule the wireless roost, study finds
Building and strengthening customer relationships is the key to greater success for wireless service providers, according to the latest Relationship Builder research from Carlson Marketing and Peppers & Rogers Group.
However, according to Luc Bondar, global vice president of loyalty for Carlson Marketing, no wireless company in the US has yet excelled in developing strong customer relationships.
Coupled with the other insights from the research, this suggests that providers that get the relationship part of their business properly planned and executed should realise more value from their customers.
Carlson has also recently analysed relationship trends in several other industry sectors and has concluded from this latest study that the wireless industry has the lowest levels of relationship strength compared with the airline, automotive, financial services, and retail sectors.
The study set out to answer three basic questions:
- Do consumers have real relationships with their wireless providers?
- What impact does the strength of the relationship have on business outcomes such as the likelihood to recommend the provider and also to remain a customer?
- How can stronger relationships be developed?
The study identified a definite correlation between relationship strength and customer behaviour. Indeed, as the relationship grows stronger, customers also have a stronger tendency to remain a customer, encourage family and friends to join their wireless provider, and to actually purchase more products and services from the provider.
Among the conclusions presented in the report, Carlson discusses five insights and five actions from which marketing professionals in wireless companies could benefit. In brief, the insights are that wireless providers can: strengthen customer relationships; become differentiated; improve business results; not just buy strong relationships; benefit from remembering the importance of customer service. Among the actions recommended, wireless providers should: deliver real product quality; say "thank you" to customers; ask for feedback; apologise when a mishap occurs; make communications customised and relevant; continue to innovate; and better understand the structure of customer relationships.
The full report, entited 'Connecting with Wireless Customers: The Relationship Opportunity', has been made available for free download from Carlson's web site - click here (free registration required).