Do you think being a long-term customer is a good thing? Do you think you are rewarded for that loyalty? But you are?
How have you been rewarded for staying with your cell phone carrier for 8 years? Or the phone company he had an account with since before AT&T broke up? Do they value your business? Have they shown you yes?
Or have you been penalized for keeping your phone, banking or insurance companies? Are you paying the same rates you paid when you signed up? Where are the technological gains and other benefits that should be reflected in the price you pay now?
Many companies penalize long-term customers by keeping them at the same rate as when they initially signed up. When that’s the case, you never get the lower price that new customers get. You are not aware of any earnings that have occurred since you purchased the service. Benefits and savings go to new customers unless you, the long-term customer, request a similar deal. So ask!
Negotiate your phone costs annually
You can negotiate everything. All it takes to get a price reduction is the willingness to ask for it. Don’t passively renew your expensive cell phone contract. Before it expires, call the Customer Retention department and request a better price and/or conditions. You want more service for the same or less cost. For example, you want text messages to be included in your monthly rate without an additional charge per message. You want to add a family member to your account at no additional charge. Are they giving free or discounted phones with a new service? Their goal is to get more features for less expense.
Your phone number belongs to you. You can keep the same number no matter what carrier you use. This frees you up to search for a better deal, one similar to the advertised new account specials. New customers are offered better rates than existing customers. They benefit from the technological and other efficiencies passed on to them. If you don’t request a rate reduction, you won’t get these benefits.
Frugal is the new style
I trade my cell phone contract each renewal cycle. I ask for rate reductions more often if there is an advertising campaign that motivates me to call now.
My friend Dawn called her cable company and asked for a better package. She mentioned that she has been a loyal customer for 10 years. Her cable company responded with a pricing package that saved her $50 a month! That’s $600 in annual savings just because she asked for it. It’s definitely worth the time she took to make the call.
Evaluate your long-term customer relationships
How long have you been a customer of your current phone, cable, and insurance companies? Isn’t it time you asked for a better deal? Look at your customer relationships and see which ones you should contact to lower prices.
Start your research by calling your existing company. Ask how much new phone service would cost each month. Ask if they have any special programs you qualify for. Ask what other benefits they offer. Ask what else you could receive for becoming a customer. When you consider how much you’re going to pay the company over the life of your contract, it’s okay to push. Let’s say you’re looking for the best rates. Ask to be sold.
The new price quotes become the basis for comparing your existing costs. Use the new quotes to then negotiate a price reduction on your existing service. If your company won’t offer you a significant price reduction… now you know it’s time to make a change. Then do it.
