Lesson #2 from T-mobile’s Success
Lesson #2: Creative thinking can open new doors for you!
I always say there is a room for improvement, a room for innovation. Recently in the past few years T-Mobile proved to one of the biggest wireless markets in the world that shaking up the market is possible.
For so long the wireless carriers were locking in customers with 2 year contracts. Customers didn’t have a choice to move from one company to the other if the service was not up to their expectations.
T-mobile went through tough couple of years specially when the deal with AT&T Inc fell through and they had to work on plan B.
At that point they have raised enough money to work on rebranding themselves to become the “Un-carrier”.
Remember when you used to pay per minute rate, then the carriers would allow you to call from 6 pm for free then they would ask you later to commit to a year contract. They simply would lock you in and you can’t get out of that contract. I was one of those customers who would have a good network at work and bad network at home. Being locked in for two years didn’t give me any choice but to keep my service.
Wireless carriers lived the best years of their lives enjoying low churn rates, high revenue per customer with their high price matched plans. You simply can’t go anyway and you are their slave!!!
T-Mobile came and in at a time where customers were frustrated but no one was listening to them and this was the golden opportunity. It is a golden opportunity in many business or industries. But it takes a lot of understanding and also courage to simply do the right thing.
How T-Mobile has changed the market in the US and proved to other carriers that there is a room for creativity in a well established market.
HOW T-Mobile Changed the Market
Never think a mature market is TRULY mature!