Quote:
Originally Posted by RichardCoulter
...and a retention deal with a lower profit is better than losing a customer altogether.
These days they do seem to be letting people go ahead and cancel though and then contacting them later on during the notice period to try to get them to stay.
A family member and a friend had both been with cable for donkeys years and rang to say that they found the latest price rises were unacceptable. Nothing was done to try and keep their custom, so they both set up new (cheaper) suppliers to start after the cessation of their VM services.
Calling their bluff and contacting them towards the end of the notice period certainly backfired in these cases as their reduced price offer simply came too late. I'm certain that had something been done in a timely manner, they would have stayed with VM.
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Only if the customer actually intends to leave though.
If the customer doesn't intend to leave then it's revenue lost. Yes, taking a hard line will result in some customers moving on, but if the proportion of chancers is high then a hard line will benefit revenue and profits in the long run. Less customers isn't a bad thing if those remaining are higher quality.