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Why EXISTING & LOYAL customers pay MORE?

Why EXISTING & LOYAL customers pay MORE?

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Contributor Mehuls
Contributor
Posts: 1
Registered: ‎04-13-2018
Message 1 of 6
(809 Views)

After 8 yrs with Verizon! I have to say, why do we as loyal customers pay 3 times HIGH than new customers? The real cost to REacquire an existing customer is higher than to get a new customer. 

Something or someONE needs to be changed. This is competitive landscape now... we are looking for other options (forced to), and will not tolerate this.


Highly frustrated and disappointed customer.

M.

5 REPLIES 5
Gold Contributor VII
Gold Contributor VII
Posts: 4,834
Registered: ‎10-18-2016
Message 2 of 6
(782 Views)

@Mehulswrote:

After 8 yrs with Verizon! I have to say, why do we as loyal customers pay 3 times HIGH than new customers? The real cost to REacquire an existing customer is higher than to get a new customer. 

Something or someONE needs to be changed. This is competitive landscape now... we are looking for other options (forced to), and will not tolerate this.


Highly frustrated and disappointed customer.

M.


Unfortunately this is not anything to do with “loyality” it is not like in a person to person friendship. You are buy a service nothing more. This purchase is based on price, not friendship. So in a loyality relationship Verizon Fios should never raise the rates because their business runs on friendship? 

When I go to the local market the store is charging $12,$15,$20 a pound for porterhouse steak. But I am their loyal customer and I pay it. When the other market around the corner is charging $7 a pound. Nothing to do with loyality but need to purchase at the best price.

when I first took Fios the price was double I was paying with Time Warner broadband. However I was purchasing 100 times the speed. 

 

The price of getting new customers is cheap because the long term customers are footing the extra cost.

 

you can go to any service you desire. Nothing to do with loyality.

Platinum Contributor III Platinum Contributor III
Platinum Contributor III
Posts: 7,752
Registered: ‎11-04-2008
Message 3 of 6
(751 Views)

Most service providers (cable,  cell, etc) offer new customers better rates that existing.

They consider it the cost of acquisition.

Most customers won't go through the hassle of chasing the best deal.


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Contributor wfears
Contributor
Posts: 5
Registered: ‎08-12-2011
Message 4 of 6
(668 Views)

I also have been with Verizon for more than 8 years. When my contract is coming up for renewal I always contact customer service to see what kind of deal I can work. So far I have had positive results.

Copper Contributor DJDarkGift
Copper Contributor
Posts: 6
Registered: ‎05-31-2018
Message 5 of 6
(651 Views)

Recently I did the same thing you had done, spoke with Customer Service to see what deals were available to me. I was basically told that it would be cheaper to continue paying my bills month to month as signing a new two year contract would be more expensive for all the same services & speeds I currently have. That makes no logical sense at all. 

 

I totaly understand what you mean by “Loyal Customer” as I am one myself. I too would have expected a cheaper rate based on the amount of years we’ve been Verizon Customers. I tried getting a cheaper rate when my initial Two Year contract was up, in which the rep that I spoke with was very helpful and was able to give me a reduced rate on my total monthly bill. The representatives I spoke with on the other two occasions my two year contracts were up, they weren’t able to do the same thing, only patronize me by inform me that agreeing to a new two year contract would result in a higher monthly bill for the same exact services, which makes no sense at all whatsoever. 

Gold Contributor VII
Gold Contributor VII
Posts: 4,834
Registered: ‎10-18-2016
Message 6 of 6
(642 Views)

Again there is no such thing (loyalty) in a “Business Relationship” you yourself are stating you are calling to get a cheaper rate. There is nothing wrong in that. However companies look at the bottom line. Get as much revenue as much as they can as often as they can.

they have responsibility to shareholders and corporate officers to turn profits.

you are looking for the best possibly service at the lowest prices.

 

i have been with Verizon wireless long before they were Verizon. I joined up with them when they first started cellular service. (Verizon name change happened in 2000)

i was there with Bell Atlantic/NYNEX Mobile and had cell service with another cell company before that (Albany Telephone Company) back in 1985-86 maybe earlier.

but I went with the best pricing, so my loyalty is if my service degrades or it gets too pricy then I walk on over to another service.

 

like I said other services do the same thing. Low low prices to get you, then price hikes every 6 months until you the customer has had enough.

 

there is no such thing as loyalty in business. If Verizon was loyal to you, the pricing would be stable across all their markets. But it is not. 

 

 

 

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