Verizon re-ups loyalty discounts in latest attempt to keep customers

Over on Reddit, Verizon customers are reporting that loyalty discounts are automatically being applied to their accounts. The amount of the discount appears to vary depending on the customer. Some claim that they received $10 off per line, some $20 off per line, and others $20 for one line or 15% off for a line.

“I noticed there’s a $20 off offer for 12 months but for just this line. Is this coming up automatically after the other loyalty offers end? Haven’t requested any porting pins so far,” says one Reddit user.

Another commenter states, “Yesterday they gave me $10 off 4 lines for 12 months. They’re trying hard to stop the churn to ATT and T-Mobile.”

“I received $20 off each of my three lines. Seems kind of random to what people are getting,” one customer wrote.

“Same thing happened to me yesterday. Then I generated a pin. Today I got 15% off my other line for a year. Not as good as $20, but still helpful,” one more commenter mentioned.

During an earnings call on October 29, Verizon CEO Dan Schulman acknowledged that price increases are a contributing factor to the growing number of customers choosing to leave. Schulman also admitted that the company needs to find a different way to grow for more sustainable success.

“For the past few years, our financial growth has relied too heavily on price increases, a strategic approach that relies too much on price without subscriber growth is not a sustainable strategy,” said Schulman. “Every year, it gets harder to grow as we lap past price increases and experience higher churn. This cannot continue, and there is no question that meaningful change is needed.”

It’s possible this latest wave of discounts is part of the company’s strategy to win customers back. Did you recently get a new loyalty discount? Let us know in the comments below.