The telco says it will reward customer loyalty by offering the same deals to both existing and new customers. From three months in customers will be able to move to a new package if the company has a better one on offer.
Prices can be fixed if the customer is prepared to lock themselves in for an 18 month period.
TalkTalk is also scrapping separate line rental charges and moving to a single combined monthly price. This move in line with current industry trends that saw Vodafone remove its own line rental charges in August.
Tristia Harrison, TalkTalk’s Consumer Managing Director said: “TalkTalk entered the market as a challenger, and we’ve always saved customers money. But today’s changes are about more than that. We know this is an essential service that really matters to people, so it needs to be simple, affordable, reliable and fair. We’re proud to be the first to make the big changes customers expect and deserve of their telecoms provider today.”
A study by TalkTalk found an unsurprising 84% of consumers thought they were punished for their loyalty.
Under TalkTalk’s new pricing structure customers have the flexibility to choose and fix their own package, tailoring mix-and-match broadband, mobile, TV and calls to suit their needs.
However, it’s clear TalkTalk has work to do. A study by Kantar Worldmedia, released today, described the telco as a shadow of its former self. “In a market that is becoming increasingly noisy TalkTalk seems to have lost its voice and consumers seem unwilling to listen. The momentum it generated following the data scandal recovery has gone and nearly a fifth of its customers still want to leave as soon as they can – TalkTalk has its work cut out if it’s to see its previous success again,” said Kantar’s Fiona Keenan.
It’s claimed 40% of TalkTalk’s former customers head to BT.