All articles tagged with #customer retention
T-Mobile is planning significant changes including ending its JUMP! phone leasing program, shifting to a digital-only customer service model, and phasing out LTE over the next two years, amid leadership changes and increasing customer churn due to rising prices and competitive pressures.
Tesla's customer loyalty in the U.S. has sharply declined from a peak of 73% in June 2024 to about 57.4% in May 2025, following Elon Musk's political endorsements and increased activism, which appear to have alienated some of its eco-conscious customer base and allowed competitors to gain ground. The decline in loyalty and market share is compounded by aging models and rising competition from legacy automakers and Chinese EVs, raising concerns about Tesla's long-term dominance in the EV market.
Verizon is ending loyalty discounts for customers starting September 1, encouraging them to switch to its new customizable myPlan plans, amid rate hikes and a focus on high-quality customers, which has led to customer dissatisfaction and potential loss of postpaid clients.
T-Mobile has launched a new low-cost satellite messaging service called T-Satellite in partnership with Starlink to attract and retain customers amid recent price hikes and increased churn. The service provides extended coverage in remote areas, is free for certain plans, and has been used in emergencies, aiming to appeal especially to first responders and customers in underserved regions.
Verizon is implementing new strategies, including offering free phone lines for 36 months to retain customers and enhancing AI-driven customer service, in response to increasing competition and customer churn in the telecom industry.
Verizon, facing customer backlash and significant subscriber losses due to recent price hikes, has launched a promotional bundle offering trade-in deals on smartphones, tablets, and smartwatches, along with Amazon gift cards for switching to their internet plans, in an effort to regain customer trust and market share.
McDonald's is launching a new "McValue" menu in January 2025 to attract budget-conscious customers amid rising menu prices. The menu will feature a $5 meal deal and a "Buy One, Add One for $1" option, including breakfast. This move aims to boost growth after recent sales declines, partly due to an E. coli outbreak. The initiative is McDonald's largest value-focused effort since 2018, as the company seeks to redefine value for its customers.
Tractor Supply, known for selling tractor parts, animal feed, and farm supplies to experienced hobby farmers and ranchers, now faces the challenge of retaining its new customer base of city dwellers who turned to farming during the pandemic. The company must find ways to cater to the needs of both urban customers and traditional farmers to ensure continued success.
DraftKings reported revenue of $875 million in the second quarter of 2023, an 88% increase compared to the same period last year. The company raised its 2023 revenue guidance midpoint by $315 million to $3.5 billion and improved its 2023 adjusted EBITDA guidance midpoint by $110 million to ($205) million. DraftKings also highlighted continued growth in customer retention, acquisition, and engagement, with an increase in monthly unique paying customers and average revenue per customer. The company expects to generate $150 million to $175 million of adjusted EBITDA in the fourth quarter of 2023 and plans to launch its sportsbook product in Kentucky this fall.
Verizon is reducing the number of its wireless plans from six to two, in an effort to simplify its offerings and attract customers it has been losing to competitors. The new plans will be available from Thursday and are part of the company's cost-cutting measures.