“You can’t just ask customers what they want and then try to give that to them. By the time you get it built, they’ll want something new.”
This Steve Jobs quote points to a problem wireless providers face monthly—customer churn. Within the next 2-12 months, 39.6 million wireless subscribers will change providers. What’s shocking is that the churn rates of wireless providers are at historic lows.
Wireless companies can ask their customers what they want, but they also need to understand what makes their customers, as well as their competitors’ customers, tick. Not only is it vital to understand what is making them switch wireless providers and what they’re looking for in their next wireless provider, but also what guides their daily purchasing decisions—the “why” that drives the “what.”
This actionable insight guides a range of strategies for marketing, research and loyalty teams within wireless providers, from how to communicate with wireless switchers to the most effective channels to reach them.
GET DEEP WITH THE SWITCHERS
There are multiple ways of understanding the “why” behind the daily decisions of wireless consumers, including why they’re switching providers. At Resonate, we look at the Human Element, which is a holistic understanding of a person that starts with what makes us the most human—our values and motivations.
The top personal values that guide the daily purchasing decisions of people switching wireless providers is an essential guide for understanding these consumers. For example, the top personal value of wireless switchers is “being in charge and directing people.” So marketers should consider using themes of being assertive, commanding and confident. Switchers also value having the “opportunity to show one’s abilities and to be admired for what one does.” Marketing messages should focus on themes of being admired, appreciated, successful and acknowledged. Another top personal value is “acquiring wealth and influence.” Marketers should consider using themes of prestige, importance, prosperity and power in their creative and messaging.
Their top psychological drivers also help paint a complete picture. For people switching providers, their top drivers are expressing individuality, romantic love and living an exciting life. Another interesting insight is their daily routine. Wireless switchers are regular coffee drinkers, they prefer making their own meals and they value work beyond income.
UNDERSTAND WHY THEY’RE SWITCHING
Now that we have a human snapshot of people switching wireless providers, we can dig into why they’re switching and what they’re looking for in their next provider.
Insights within Resonate’s consumer intelligence platform show that the top features that drive a subscriber to switch include:
- Network speed
- Unlimited data
- The need for a family plan
- International plans
We still want to drill deeper into these switchers and learn about their media consumption.
This snapshot shows:
- The TV shows they watch the most and on what devices
- The newspapers and magazines they read
- Social sites they frequent
- What types of apps they value
Resonate also has valuable insights on each wireless provider and the who, what, when, where and why of all of their switchers.
The challenge for wireless marketers is turning massive amounts of data into insights that allow them to decide on the right strategy for reducing churn. With person-centric insights, marketers can see the actions needed to reduce churn in one, easy-to-use platform that’s updated nightly. So, while you can’t just ask, you can find out and act before they want something new.
Ready to get started? We’d be happy to show you more.
Learn more about Resonate’s deep consumer insights in the State of the Consumer Report Q4 2018.