BASKING RIDGE, NJ — For the twelfth 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 three weeks, Verizon Wireless, operator of the nation's most reliable wireless network, had the lowest customer churn (turnover) rate in the third quarter of 2007.
A company's churn rate is the percentage of its customers who leave and is an important measure of customer loyalty. Third quarter financial performance announcements the latest was released today included the following customer churn rates (for postpaid and prepay customers):
CarrierVerizon WirelessCarrier XCarrier YCarrier Z
Total Customers (Prepay and Postpaid) 1.3%1.7%N/A2.9%
Postpaid Customers1.0%1.3% 2.3%2.0%
Verizon Wireless is dedicated to delivering outstanding customer satisfaction and the industry's best customer service and tools in-person, over the phone and online. Each day, trained customer service representatives handle more than three million daily transactions with new, existing and potential customers.
In addition, Verizon Wireless' industry-leading policies are designed to make it easy for customers to do business with the company:
- Verizon Wireless is the only major carrier with Test Drive, offering new customers the chance to experience the Verizon Wireless network for 30 days virtually risk-free.
- Verizon Wireless offers 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.
- In October, the company announced the enhanced Worry Free Guarantee, which allows new and existing customers to change their calling plans without requiring contract extensions a customer-friendly policy enhancement that was designed to further promote customer loyalty.
Verizon Wireless 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 nine months of this year has invested $4.9 billion.
About Verizon WirelessVerizon Wireless operates the nation's most reliable wireless voice and data network, serving 63.7 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 68,000 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.####