Sprint (NYSE:S) Planning On Introducing Some Mind-Blowing Deals to Keep Its Customers from Leaving the Company

The performance of Sprint (NYSE:S) is not going very great right now. According to RootMetrics, the company’s network performance is not up to the mark; Sprint lost around 0.5 million subscribers in its recent quarter. And news has it that it plans on cutting 2,000 jobs. The chief executive officer of the company, Marcelo Claure, recently announced his plan to bring the subscribers back to Sprint.

Marcelo, in a Telecom conference arranged by wells Fargo, announced that the customers of Sprint will get the value of their money. He said that even though the company does not offer the cheapest wireless service, it will compensate its subscribers in some other way. Sprint (NYSE:S), in the upcoming weeks, will try to convince the subscribers to get back to it by giving them better deals.

Market analysts are of the view that this plan would work for the company, for it worked for Sprint’s competitor as well. T- Mobile (NYSE:TMUS), Sprint’s rival, used this strategy to get its customers back. The company marketed itself as an ‘uncarrier’. In order to convince the customers that it has their best interests in mind, the company offers more packages than any other carrier. Its packages include no prior contracts, cost cutting plans and low pricing for the services that the company offers. This plan implemented by T-Mobile assured the subscribers that the company cares about its customers and it provides good value for the money. Perhaps this is the reason why it has attracted 10 million subscribers over the course of past 6 quarters.

Although it will not be easy for Sprint to beat T-Mobile, but the initiative is worth appreciation. Sprint has recently introduced its wireless for iPhones plan. This plan costs around $50 for each month with an unlimited wireless connection.

The CEO of Sprint, in the conference, also mentioned that it is important for the company to provide reliable and consistent network if it wants to gain the trust of its customers. Claure talked about the recent network upgrade service that Sprint introduced in the market; he said that it was not a very remarkable experience both for the company as well as the customers, and thus the company should avoid introducing such services in the future.

The CEO further mentioned that it was the transition in the services of the company that pushed the customers away. The churn rate is currently at 2.18 percent, for the customers have chosen other reliable and consistent networks. Sprint plans on fulfilling the basic internet needs of its customers in order to keep them intact.

As for now, chances are that the company will get dumped by the customers if it does not introduce some mind blowing packages and deals. Sprint (NYSE:S), on the last trading day of 14^th November, started its stocks at a price of $5.01 and closed at a price of $5.05, after hitting the highest figures of $5.10. The company has a market capitalization of $19.98 billion.