Verizon scales back a perk that keeps prices low for customers
Verizon is walking back a commitment it made to customers just last year as it faces a changing competitive landscape.
https://www.thestreet.com/retail/verizon-removes-price-lock-guarantee-from-myplan
"You know you're over the target when you start taking flak."
Red Arrow Brigade ! BRAVOOOO !!!!
You really make reading easier - we know which posts really hit a nerve.
Thanks a lot ! sincerely !
@aq As well as being told how 5 G home internet would work as well as Fios. And pi$$ing all of that money down the drain for a sh1t product
Is anyone really suprised? The company is among the most unethical, treats employees like garbage, breaks promises to them without a second thought.
Is it shocking that they started this with customers?
@ar So it works like:
Sign up for a Verizon plan because the perks and incentives convince you it's a good deal.
Every interaction on the phone or in a store involves suggestions for changing a line or a small detail (as explained by many sales people on this forum)
A line change must nullify the previous deal and all incentives and perks go away.
I bet the customer isn't told the specifics of what they will lose after they make that line change.
Is this how we delight the customer?
Now it makes sense why sales people have come on here talking about pressure they endure to convince every customer to have something changed on their account.
That sounds like a shady version of bait and switch hidden in the fine print.
@ag existing customers who "made line changes to a myPlan option on or after June 16 can no longer benefit from the price lock promise..."
I stopped using the wireless offering not so much due to price, but the blatant dishonesty exhibited in the stores. On the few occasions I went to a store with a question or request, they would strip ALL my discounts from the account under the guise that the change I was making necessitated "temporarily" removing the discount price from my account because they had to in order to push through the order but, once the order was completed, the discounts would be put back into the system and restored.
I could NEVER walk out of one of their stores without my monthly bill going up $30, $40, $50... a month through trickery and deceit.
The Wireless arm of the company ruined our reputation and painted our whole company with the reputation of being a bunch of lying, thieving sc-mbags.
Once trust is lost, it's lost. It ain't coming back.
(Giving better discounts to other companies employees, that were greater than the discounts given employees of this company didn't help much either).
On an earnings call in July, Dan promised “We will not raise prices without adding corresponding value for our customers”
This is not that.
It appears that Verizon offered a 3-year price lock last April and they are no longer offering it. If someone has the perk I guess they have the perk until it expires. But the perk is no longer offered as an incentive to bring on new customers. Maybe increasing customers is not the goal right now if the board is happy with the stock price for the moment.
In the end, customers don't care about the phasing or the spin or the loopholes. They care about the number on that bill when they make that payment. When those perks expire all they will see is that the number went up. And they will respond accordingly. Then the board will decide if they care about increasing customers again.
It's an exhausting love hate relationship.
This is nothing new. Leadership lies again and again and again to customers, externally and internally, while making millions in compensation, benefits, stock options, etc.
Ceasing to offer a price lock isn’t “walking back a commitment”. Prematurely ending a price lock for existing customers would.