BASKING RIDGE, NJ — For the tenth 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, the leading wireless company with the most reliable voice and data network, had the lowest customer churn (turnover) rate in the first quarter of 2007.
Churn is the percentage of customers who leave their carrier and is an important measure of customer loyalty. First quarter financial performance announcements the latest was released today included the following customer churn rates:
Carrier Verizon Wireless Carrier XCarrier YCarrier Z
Total - Prepaid and Contract Customers1.1%1.7%N/A2.6%
"Customers choose and stay with Verizon Wireless because of our unparalleled network performance, exceptional customer service in our call centers and retail stores and outstanding handset lineup," said Jack Plating, executive vice president and chief operating officer for Verizon Wireless. "In addition, we've introduced a number of customer loyalty programs that further enhance the customer experience and make it easy for consumers to switch to Verizon Wireless and stay with us. We believe that these programs, combined with our ability to offer customers a reliable experience that they will not find anywhere else, are the reasons why Verizon Wireless has consistently led our competitors in turnover rates for more than two years."
Most recently, Verizon Wireless became the only major carrier with a 30-day network Test Drive pledge that pays for calls if a customer isn't satisfied and switches to another carrier. Now, wireless consumers get to be their own test man or woman by "taking the Verizon Wireless network for a spin" to experience the Verizon Wireless network on their own. If at any point during the 30-day Test Drive customers are not satisfied with their experience and take their number to another wireless carrier, Verizon Wireless will refund their money for their voice calls, equipment, activation fee and taxes, as well as release them from their contract without an early termination fee when they return their phone within the Test Drive period.
In addition, Verizon Wireless has continued its unwavering commitment to the maintenance and expansion of its national wireless network. In 2006, the company invested $6.6 billion, and in the first three months of this year has invested $1.7 billion to increase the coverage and capacity of its national network and to add new services. Verizon Wireless has invested a total of $37 billion in its network over the last seven years since the company was formed.
For more information, visit www.verizonwireless.com.
About Verizon Wireless Verizon Wireless operates the nation's most reliable wireless voice and data network, serving 60.7 million customers. The largest US wireless company and largest wireless data provider, based on revenues, Verizon Wireless is headquartered in Basking Ridge, N.J., with 66,000 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.####