If you are still under the impression that old-school advertising methods like flyers and TV ads are enough to attract subscribers to your internet service provider business, you need to understand that the market has changed.
People are more demanding. The competition has increased. And, sticking to the old ways of doing things is not enough anymore. That is why we have curated a list of some strong marketing strategies that can bring more profit to your ISP business.
Ten strategies to make more profit for your ISP business
We have gathered a list of the best internet service marketing strategies that will help your ISP be profitable. Let’s take a look.
Give a referral program
Did you know that almost 92% of customers trust referrals given by people they know? Moreover, they are four times more likely to buy something their friend has suggested. This makes a referral program a great place to start!
If your goal is to expand your customer base by leveraging your existing customers, it is the best way!
Now there are a couple of ways in which you can apply this method. You can either give your subscribers a discount on their current plan whenever they bring a referral or give them a one-month free subscription.
Or you could try a more tiered structure. For example, if your customer brings in more than ten people, you can give them extra benefits like 6-months free, more discounts, a free product, etc.
Approach the freemium strategy
The freemium strategy is something almost every popular streaming platform uses. With this model, streaming platforms let users use their platform for free. However, they need to watch all of the ads. If the user wants to get rid of ads, they will need to pay for a plan.
As an internet service provider business, you might wonder how you can apply this approach? You can offer a free Wi-Fi extender add-on for customers with a weak Wi-Fi signal. But if they want to manage that add-on through an app, they’ll need to pay for it.
Bundle your services
Your standard service users who are already satisfied with their current plan are the most difficult to convince to upgrade. But this is not necessarily the case with your new customers. With customers new to your service, you can mix your standard offerings with the premium plan and create an irresistible bundle.
This could actually help you steal customers away from your competition! You can also see what plans they are offering and create competitive packages that are irresistible to your customers.
If you want to explore further, you can partner with a company and give a complimentary offer. For example, you can offer your customers a mobile device or tablet with your internet subscription.
Increase customer retention
The internet service business has already reached its saturation point. Gaining new customers will not make up for the lost ones. So, an ISP business should focus more on customer retention! Keeping your current customers happy should be your primary goal.
To make this possible, you have to increase customer loyalty. Try applying the following strategies:
- Introduce a loyalty program
- Take extreme measures to improve your customer service
- Keep doing surveys to understand what your customers feel about your service and what they would like you to improve
Reward loyal customers
Have you noticed an increased churn rate despite your excellent services? One of the major reasons might be because your customers are not feeling rewarded for their loyalty.
Make sure you thank your customers for choosing you. If you do it right, it can cost you less and even increase your profitability! Rewarding your customers can be as simple as giving them a gift card or adding something for free to their service bundle.
Moreover, you can even consider discounts on extended services. This gives them better rates, meaning they are more likely to stay.
Listen to your customers
Ignoring your customer’s needs is a bad idea. Being heard is important to customers, and if they feel ignored, they will take their business elsewhere. It may seem overly harsh, but it is a truth worth keeping in mind.
But how do you know what your customers want? Always ask for honest feedback. And be prepared if they have nothing positive to say.
As an internet service provider business, you need to understand your role in your customer’s life. You are the channel through which every digital service flows in their lives.
Start giving subscribers more than just basic internet. Connect them with digital services like live TV, digital education, etc.
Upsell customers more internet
The easiest way to upsell more internet is by increasing the prices and the quantity you are selling. For example, if you’re selling a 25 Mbps plan for $60, upsell a 50 Mbps plan for $80.
To let more people adopt your premium plans, you can take the help of videos. People prefer watching videos and streaming more on video platforms like Netflix. And to load high-quality 4K videos, they need internet with a 25 Mbps average speed.
Have a great tech support
You need to hire good network technicians or developers. Poor technicians can be a major reason behind unsatisfied subscribers and the failure of your ISP business.
Do not be dazzled by every talented applicant that you meet. Perform thorough research and hire the right person.
Become a reliable alternative
Usually, hotels and businesses have unreliable internet connections. You can offer them pay-as-you-go services and provide them with a connection for a daily fee. However, keep your daily fee affordable as this will keep your user base happy. In the cutthroat competition world, offering quality services at affordable prices is the first step to increasing sales.
Offer troubleshooting for PCs
If you reside in a rural area where finding tech support is as difficult as finding a needle in a haystack, offering extra services like troubleshooting for PCs is a great way to generate additional revenue. You can even make this a part of your service bundle!
You need to ensure that you stay in business for the long term! Always adapt to the latest market trends and customer demands. We hope you apply these internet service marketing strategies to generate more profit for your ISP business.