When most people think of cord-cutting, they are talking about giving up
their cable or satellite subscription.
While most consumers have been talking about cutting the cable cord for a while, consumers are just beginning to actually follow through on it.
The larger amount of cord cutting happened with consumers and their
Since 2010, the number of mobile phone only consumers increased
by nearly 70%.
● In 2010, 26% of consumers only have a mobile phone
● Today, 44% of consumers only have a mobile phone.
● 64% of Millenials are mobile phone only
● 45% of Generation X consumers are mobile phone only
● 32% of Baby Boomers are mobile phone only
● 60% of Hispanics are mobile phone only
Nearly half of those consumers who are mobile only have been forced cut service because of financial constraints and over half have reported hitting their maximum data allowed on their plan.
What This Means To You
With more and more consumers moving away from landlines, loyalty programs and digital communication are becoming more important. Just like there are SPAM laws protecting your email inbox, there are laws that protect consumer’s mobile phone numbers for voice and text. A solid loyalty program can help you get your message to customers without legal penalties. The growth of mobile only consumers means that your customers can receive your while they are on the go. The key to getting them to act on your communication is the offer itself. A valuable offer will drive customers to your virtual/physical business. An offer that is not valuable will not only lead to an offer being ignored, it could mean future offers won’t be considered. For more information on how to maximize your businesses footprint, please contact:
Sources: eMarketer; GfK MRI