. Eager to stop the trend of losing customers, Schulman is already acting: the carrier is now offering a no-strings loyalty discount to make subscribers stay.
Verizon had long used loyalty discounts to stop dissatisfied customers from leaving. The company typically offered the discounts only when customers were preparing to leave, lowering their monthly bills enough to abandon the idea of switching. That’s why customers were taken aback when the company pulled back the discount.For many customers, that was the last straw, as the discount was the sole reason they were still with the company. With that reason taken away, some of them decided to leave, prompting Verizon to reinstate the discount in some capacity. However, the confusing implementation left a sour taste, explaining why the company has now employed a better method.
The company is emailing customers to tell them they have received a loyalty discount that can be claimed by going to their account.
Customers don’t have to jump through hoops to get the new loyalty discount
The offer popped up for one customer just after their previous discount expired.
What makes this offer different is that it isn’t just being offered to customers who have hinted they are migrating to another carrier. Crucially, there’s no way to trigger it. It appears to be a genuine token of appreciation for loyal customers.The offer isn’t the same for all customers. For instance, one customer received a 15 percent monthly discount on some of their phone lines for the next 12 months, while another got a $10/month discount on five lines for a year.
New CEO wants to win back customer trust
Apparently, Verizon always planned to replace the previous loyalty discounts with new ones. Its failure to communicate properly cost its customers. The company lost customers in the first and second quarters, and the third quarter results, which will be announced on October 29, are unlikely to be any better.
The new CEO was seemingly hired to turn the situation around, and with a better version of loyalty discounts and its bill-lowering offer, he might succeed.
