BASKING RIDGE, NJ — Verizon Wireless customers continue to be the most loyal in the wireless industry according to data released by the nation's largest carriers in the past three weeks. For the eleventh consecutive quarter, Verizon Wireless reported the lowest customer churn (turnover) rate in the second quarter of 2007.
Churn is the percentage of customers who leave their carrier and is an important measure of customer loyalty. Second quarter financial performance announcements the latest was released last week included the following customer churn rates:
CarrierVerizon WirelessCarrier XCarrier YCarrier Z
Total Customers (Pre Paid and Post Pay)1.3%1.6%N/A2.7%
Post Paid Customers0.85%1.2%2.0%1.8%
"Verizon Wireless is focused on providing the best experience each and every time we interact with customers," said Jack Plating, executive vice president and chief operating officer for Verizon Wireless. "Our unwavering commitment is to resolve customer issues quickly and accurately, and to deliver the best possible wireless experience to our customers through the nation's most reliable wireless network."
Verizon Wireless provides customers with services and self-service tools that consistently deliver customer satisfaction. Each day, trained customer service representatives handle more than three million daily transactions with new, existing and potential customers.
In addition, the company has implemented industry-first policies that enhance the customer experience. Verizon Wireless was the first major wireless carrier to introduce a declining early termination fee, so customers who sign up or renew service will not be required to pay a fixed early termination fee if their service is terminated before the end of the minimum term. Verizon Wireless is also the only major wireless carrier to offer a network Test Drive pledge that pays for calls if a customer isn't satisfied and switches to another carrier.
Verizon Wireless also has invested more than $40 billion since it was formed more than $5 billion on average every year to increase the coverage and capacity of its national network and to add new services. In 2006 the company invested $6.6 billion, and in the first six months of this year has invested $3.4 billion.
About Verizon WirelessVerizon Wireless operates the nation's most reliable wireless voice and data network, serving 62.1 million customers. The largest U.S. wireless company and largest wireless data provider, based on revenues, Verizon Wireless is headquartered in Basking Ridge, N.J., with 67,000 employees nationwide. The company is a joint venture of Verizon Communications (NYSE: VZ) and Vodafone (NYSE and LSE: VOD). Find more information on the Web at www.verizonwireless.com. To preview and request broadcast-quality video footage and high-resolution stills of Verizon Wireless operations, log on to the Verizon Wireless Multimedia Library at www.verizonwireless.com/multimedia.####