Winning and Retaining Customers: Childhood to Adulthood Marketing Report

Last Updated: May 15, 2016By Chintan BharwadaTags: customer acquisition, customer retention

Research and Markets has announced the addition of the “Winning and Retaining Customers: Childhood to Adulthood ” report to their offering.

Customer loyalty is important to mobile operators, since high rates of churn can prove very costly. As the age at which people get their first phone gets ever younger, with some now as young as three, so it is in MNOs’ interests to establish loyalty from an ever younger age.

Marketing of products and services designed for use by children brings additional complexities. MNOs have to communicate with two parties, the parent and the child, and meet their different needs. At the same time, they must ensure that they are observing both legal requirements and moral obligations for safety and protection of children. Operators also need to manage the transition from child to young adult carefully if they wish to retain them as customers.

Mobile Market Development has studied the state of development and structure of this market, and looked at current offerings for children provided by a range of MNOs in different countries. Using this information, and building on its wide experience of the mobile sector, it puts forward an approach to segmenting the market and developing a range of service packages that would meet the needs of this market. In conclusion it provides recommendations for action for operators wishing to address the market for children and young adults and retain their custom as they grow up.

Companies Mentioned:

Allo-RTL
AT&T
Base
Bouygues
EE
LG
Mobistar
O2
Orange
Ownfone
Proximus
SK Telecom
Scarlet
Swisscom
TIM
Three
Vodafone

For more information visit here

Chintan Bharwada

Chintan is the Founder and Editor of Loyalty & Customers.

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To achieve better sales and profits, most companies could be doing more to cultivate business from their existing customers. However, enthusiasm for customer-retaining strategies must not endanger sound customer-getting efforts. How companies balance the two is the big question. To intensify reaching old customers while still seeking new ones, for many firms, will mean changes in market analysis, planning systems, management incentives, and marketing and/or operations organization. In the rush toward growth, consumer marketers have tended to regard success as stemming from obtaining new customers while unwittingly minimizing the importance of satisfying old ones. It is time for more companies to distinguish between their getting and retaining functions, to assess the balance between them, and to remedy any deficiencies in customer retention. This process requires management to value the potential of current customers and to treat them in special ways to get them to keep coming back. Several major elements should be part of the new marketing mix for customer retention: Product extras Keeping customers frequently requires giving them more than the basic product that initially attracted them. Product extras for individual customers over time can play a sales-expansive role. Reinforcing promotions Product promotion works better when aimed at existing customers. If a marketer knows who these customers are, benefits can be obtained by giving them reinforcing communications. Sales force connections The sales force can play a decisive role in the customer-retention function. At a retail or service counter the salesperson is the focal point of the company's strategy and is the firm to the customer. Post-purchase communication A company must anticipate that some customers will encounter either minor or serious problems after purchasing. If the firm is not ready to hear and correct these difficulties, the customer may not repurchase or may cancel the the relationship. Whether company or customer is at fault, standby post-purchase activities can be instrumental in saving these customers.

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