Verizon Sees Customer Loyalty Rising in 2017

For Verizon, 2017 is off to a promising start in the area of customer loyalty.

Verizon Chairman and CEO Lowell McAdam noted this point during Tuesday’s fourth-quarter earnings conference call.

“In the fourth quarter, we expanded our customer base in highly competitive wireless and broadband markets,” McAdam said. “We enter 2017 with confidence, based on our investments in next-generation networks and the new capabilities we have acquired. Our goal is to continue to earn our customers’ loyalty every day in a rapidly expanding mobile-first digital world.”

Matt Ellis, Verizon’s executive vice president and chief financial officer, talked about the company’s shiny future as well.

“We are in a vibrant and exciting industry,” Ellis said. “Our leadership position in wireless and fiber networks, as well as our loyal and high-quality customer base, is a reflection of our commitment to continuous improvement by our outstanding employees, which places us in a great position for long-term profitable growth.”

Ellis said that continuous changes from technology advances coupled with a competitive environment will provide Verizon with new opportunities to evolve and develop innovative solutions to continue to be the key player in this dynamic market.

“My primary objective is to build on the strong foundation of this business and ensure we are always being responsible stewards of the company by running the businesses we have today as efficiently and effectively as possible, while investing responsibly to deliver long-term growth and shareholder value,” Ellis said.
What’s more, Ellis referred to 2016 as a “transformative year” for Verizon.

“During 2016, we completed wireline divestitures of three markets, negotiated new contracts with our labor unions, executed successful 5G technical trials, and gained traction in new growth businesses,” he explained. “Operationally in wireless with our network leadership strategy, we added 1.3 million smartphone net adds and maintained industry leading retail phone churn performance of less than 0.9% for the year and for seven consecutive quarters.”

Ellis said company officials are confident about their strategy and priorities to serve customers and increase value.

“The foundation of our strategy is a network that is ubiquitous and reliable,” he said. “We will continue to invest in our networks, expand network capabilities and advance ecosystems to offer value to our customers. The execution of these priorities will allow us to lead to the network layer and develop innovative solutions to meet customer demands in the rapidly expanding mobile-first digital world.”

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