|VZW reports lowest churn rate in the industry|
Posted: 01-Mar-2007 [Source: Verizon Wireless]
[Verizon Wireless releases data showing it had the lowest customer churn rate in the fourth quarter of 2006.]
Basking RIdge, NJ -- For the ninth consecutive quarter, Verizon Wireless customers are the most loyal in the industry. According to data released by the nation's largest wireless carriers over the past month, Verizon Wireless, operator of the nation's most reliable wireless network, had the lowest customer churn (turnover) rate in the fourth quarter of 2006.
Churn is the percentage of customers who leave their carrier and is an important measure of customer loyalty. Fourth quarter financial performance announcements -- the latest was released today -- included the following customer churn rates (for postpaid and prepaid customers):
"Customer satisfaction is a top priority at Verizon Wireless," said Jack Plating, executive vice president and chief operating officer for Verizon Wireless. "Our ongoing capital investment, which allows us to offer our customers the nation's most reliable wireless voice and data network, combined with our commitment to deliver superior customer service and innovative products, help keep our customers the most loyal in the wireless industry quarter after quarter."
In addition to investing more than $6 billion annually to expand and improve its nationwide wireless network, Verizon Wireless employs 27,000 highly trained customer service representatives who are dedicated to providing world-class customer service by answering questions and resolving customer issues quickly and accurately. Daily, Verizon Wireless representatives complete 3.3 million transactions with new, existing and potential customers.
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