This article is condensed and originally appeared on the VMBlog Website.
The cloud-based telecom provider market is brimming with competition. New technologies continue to emerge that are simplifying and streamlining communication. Customer preferences are also evolving in tandem, which create pain points as Communication Service Providers (CSPs) adjust to meet their needs.
Modern telecom offerings have helped address customer pain points and provide consumers with more control over how and when they interact with a business. In a saturated market where customer preferences can change rapidly, it can be difficult for CSPs to retain their customers long-term. Knowing the factors that can contribute to separations in the telecom space can help CSPs revamp customer loyalty efforts.
Taking note of customer pain points goes a long way to providing the right types of services and ultimately may help CSPs win-and sustain-new customers. Yet, despite the focus on keeping up with evolving preferences, maintaining customer loyalty is challenging. In fact, McKinsey reports that 75% of consumers have altered their brand preferences in the last year. As a result of these shifts, CSPs providing telecom services to enterprises must work harder than ever at customer retention.
Below are three common reasons businesses might choose to switch providers along with some guidance on how CSPs can navigate them.
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