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Is Customer Retention a Priority for Verizon?

L_G_3
Miembro

With Verizon being a premium carrier, I’m surprised recruitment of new customers seems to trump retention of those who’ve demonstrated loyalty. After 16 years as a subscriber, sticking with Verizon through multiple trials and tribulations of service quality, pricing increases, program changes, I do expect to be valued. My credit cards reward me for sticking around. My banks provide extra value as a thank you. Why doesn’t my cell phone provider? Reduced program pricing is only one example. Of course, there are others. For example, I’m ready to upgrade two of the four phones on my account. Looking around I see no programs being offered by Verizon that don’t require a new line or some other add-on. Even the trade-in value for my current phones pale by comparison to what Apple offers. Contrasted to what other carriers are offering (i.e. AT&T and T-Mobile each offering various Buy-One-Get-One programs on the iPhone Xr), and the ease with which a number can be instantly ported, I honestly see little reason to stay with Verizon. With subsidies no longer available those concessions make all the difference in the world. It’s perfectly understandable that Verizon would want to entice new customers – companies need to strategically grow or die – but treating those new customers better than those you’ve already made an investment in and those who have made an investment in you is a strategy that eventually fails no matter what business you’re in. Please understand I’m not just looking to vent. If I just wanted to complain I could have done it in far fewer words. I’d like to remain. I have no need to switch for the sake of switching. I’d prefer to continue this relationship. I’m simply asking for help to understand why I should. Muchas gracias.

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Re: Is Customer Retention a Priority for Verizon?

mama23dogs
Líder Sénior

Since Verizon is the best carrier as far as coverage and reception, they have no reason to deal. Plenty of people switch and then have to go to the expense of switching back and eating crow.  

The churn is about 1%.  It was 1.5% during the paid switch offers.   No carrier can provide free phonesfor the other 99% of its customers.  Keep in mind Verizon has about 150+ million connections.   Just allowing existing customers a $100 off on new phones every 2 years is 7 billion dollars.  And it’s not a write off either.  

 

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Re: Is Customer Retention a Priority for Verizon?

JOG0277
Novice

Unfortunately, customer retention isn't a priority for Verizon.  Their main focus is enrolling new customers; while they take their existing customers for granted.  And that's probably because they know they have one of the best networks out there....The good news is....Verizon does offer a reward program for it's existing customers.  It's called " VerizonUp ".  It's actually a great program that gives you discounts, free prizes and concert tickets.  Click on Link below for more Info...

 

https://www.verizonwireless.com/rewards/verizon-up

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Re: Is Customer Retention a Priority for Verizon?

Community Manager
Community Manager

We are very dismayed to hear about your concern over Verizon's commitment to our longstanding existing customers such as yourself, L_G_3. Rest assured, Verizon appreciates our tenured customers like you and we would never want you to consider leaving us. I'm happy to shed some light on this. We do have excellent promotions for both new and existing customers and they can be viewed right here: http://spr.ly/6609EkEef Also, as JOG0277 pointed out, our Verizon UP program is an example of how we show our appreciation for our customers. While there are many rewards such as gift card and subscriptions, one of the most popular rewards are Device Dollars which can be used towards the purchase of a phone. You can find our more about Device Dollars here: http://spr.ly/6600EkEeA Does this help?

RyanM_VZW

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Re: Is Customer Retention a Priority for Verizon?

rcschnoor
Líder Sénior

@L_G_3 wrote:

With Verizon being a premium carrier, I’m surprised recruitment of new customers seems to trump retention of those who’ve demonstrated loyalty. After 16 years as a subscriber, sticking with Verizon through multiple trials and tribulations of service quality, pricing increases, program changes, I do expect to be valued. My credit cards reward me for sticking around. My banks provide extra value as a thank you. Why doesn’t my cell phone provider? Reduced program pricing is only one example. Of course, there are others.


And Verizon offers a rewards program similar to credit card rewards.

 


@L_G_3 wrote:

For example, I’m ready to upgrade two of the four phones on my account. Looking around I see no programs being offered by Verizon that don’t require a new line or some other add-on. Even the trade-in value for my current phones pale by comparison to what Apple offers. 


And what Apple offers pales in comparison to what you could get if you sold it yourself on a site such as swappa.com. In fact, if you are looking to purchase an iPhone, I would NEVER recommend purchasing from Verizon. If you instead purchase directly from Apple and get the "unlocked" version and simply move your SIM card from your current phone to the new phone, your service will be activated and you will not have to pay the $30 activation fee Verizon charges for new device.


@L_G_3 wrote:

Contrasted to what other carriers are offering (i.e. AT&T and T-Mobile each offering various Buy-One-Get-One programs on the iPhone Xr), and the ease with which a number can be instantly ported, I honestly see little reason to stay with Verizon. 


Actually, what Verizon offers is almost identical to what other providers offer. The offers to which you refer from OTHER providers are ONLY for new customers just like Verizon's offers. You would just happen to be a new customer with those other providers. When you then want to upgrade the other 2 of your 4 devices once you are already a customer with that other provider, those offers would no longer be available since you would no longer be adding a new line. Then you would need to switch back to Verizon or yet another provider.


@L_G_3 wrote:

With subsidies no longer available those concessions make all the difference in the world. It’s perfectly understandable that Verizon would want to entice new customers – companies need to strategically grow or die – but treating those new customers better than those you’ve already made an investment in and those who have made an investment in you is a strategy that eventually fails no matter what business you’re in.


So you are thinking of leaving Verizon to move to another company who treats their existing customers the same way as Verizon treats theirs? Once you switch, you will then be an existing customer and get treated the same way you are currently being treated. Of course, you could make a switch every time you want a new phone.

 

Of course, when you switch providers you may see a decline in coverage in areas you would prefer to have it. Then that discount on the price of a phone does not seem all that important when you are unable to use the phone in areas you are accustomed to using your device. Of course, you may see an improvement in service in areas you currently receive substandard service. Then you may not be so quick to switch carriers again when they won't offer you a discount on your next phone.

 

Whichever you choose, good luck.

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