5 Experience Predictions for Retail in 2019
In the retail industry, one that’s known for its ability to continually reinvent itself and find new ways to connect with consumers, the huge shift in consumer behavior from physical...
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Beyond price, one of the few ways companies think they can differentiate in the highly competitive telco market is by deciding which Kardashian they feature in their Super Bowl commercial.
Sunrise Communications, Switzerland’s second largest telecom, decided to take a different tack. They chose to focus on customer experience as both brand building and a means to improve business outcomes.
And it’s working. The company has since driven costs down, dramatically improved customer satisfaction, transformed its culture, and generated year-over-year growth.
One powerful example of what Sunrise has learned: its customers wanted more flexibility in their service contracts. The company seized this request as an opportunity to delight. Using customer experience feedback as a guide, Sunrise created a “free” contract, giving customers the freedom to cancel their service whenever they wished without a cancellation fee. The results speak for themselves: new customers increased by 30% year over year, and the NPS of the new “free” contract product is now a staggering 20 points higher than legacy rateplans.
Combined with successes like this and other innovations based on customer feedback, Sunrise has been able to push its overall retail NPS score up by an astounding 25 points in just two years.
With its recent IPO on February 6, Sunrise is confident that its investment in its customers will continue to pay off in the company’s next chapter as a public enterprise. In a statement about the IPO, Sunrise CEO Libor Voncina described the step as one that would facilitate the company’s ongoing investment in customer experience:
“ I am proud of what Sunrise has achieved thus far. Today marks a key milestone in the Company’s history. We are excited about the IPO and look forward to continuing the execution of our strategy of building a great company. We are known for offering excellent value, great service and innovative products. The IPO will enable us to continue on this path.”
Congratulations to Sunrise for it being a shining example of customer experience excellence in what is often the dim dark telecom industry. And here’s to hoping the rest of the industry follows suit. Want to find out more about their radical transformation? Download the case study on the right!