Customer Retention Strategies of Indian Telecom Service Providers
Keywords:
Customer retention, Telecommunication Industry, Information and Communication TechnologyAbstract
The landscape of the telecommunication industry in India has been changed drastically since the deregulation of telecommunication sector in early 1990s. Number of service providers has been increased from one, i.e. state monopoly, to more than 70 within a short period of time. With the increased competition telecom service providers find it difficult to retain the existing customers. The customer retention rate refers to the number of customers lost over a period of time. It is normally calculated by the percentage of lost customers versus existing customers over a quarterly or annual period, without tallying new customer acquisitions. While there are obvious benefits to keeping customers loyal and maintaining high customer retention rates, it can be extremely challenging for management to keep retention rates up. For this study the elements of services which lead to customer retention are taken into consideration and analyzed below 12 statements for retention using 5 point scale are considered for the study.
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