Customer Retention and Loyalty Becomes Top Business Growth Priority
Amdocs, the leading provider of customer experience systems, on November 23,announced the results of a global survey that highlights the critical business importance of customer retention and loyalty programs. The survey was conducted by leading analyst firm, Informa Telecoms and Media.
With 66 percent of operators believing that customers are less loyal today than they were two years ago, 70 percent of service providers 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. Due to market saturation and increasing competition, 82 percent of service providers said that customer loyalty programs would be “very important” or “important” over the next five years to their company’s strategy.
The survey results are based on a qualitative survey of director-level and above marketing and business executives responsible for retention strategies at 40 service providers across North America, Europe, Asia Pacific and Central and Latin America. The interviews were conducted from June to July 2011.
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