Verizon Wireless Offers ‘More For More’ In Attempt To Increase Revenue, Customers Face Increased Rates
Remember the days when the cellular carriers battled it out to have the lowest possible rates with the most added features? Carriers such as Verizon, Sprint, AT&T, and US Cellular often resorted to unlimited everything plans for a low price of around $100 per line in an attempt to gain the majority of the market share.
In today’s cellular landscape, plans offering unlimited features, such as talk, text, and data, are all but a thing of the past. This is especially true in the realm of data, forcing many customers to monitor their usage to avoid costly overages. However, Verizon has made the move to increase data allowance for its customers with the “More for More” campaign.
According to Fortune, Verizon Wireless has increased data allowances on most plans by at least 33 percent, offering customers more flexibility in how they can use their devices without fear of costly overages. In addition, they are bringing back rollover data, allowing customers to bank unused data from month to month. However, the courtesy to customers has come at a cost, adding nearly a 17 percent increase to the price plans.
Despite the increase in price, Nancy Clark, the senior vice president of marketing for Verizon Wireless, claims it is not a price increase. Instead, she claims that it is a new offering to existing and potential customers, clarifying that existing customers do not have to change their plans to reflect the increase in data.
“This is in no way a price increase,”
The new Verizon Plan is giving you more control over your data. Read more about how here: https://t.co/i4ofRCNvYM #IGotVerizon
— Verizon (@verizon) July 7, 2016
Clark stated that the increase in data and price, or “More for More,” is an answer to the customer’s growing reliance on data usage.
“Customers are using more and more data on our network. We needed to build bigger data plans and the value is better than ever.”
Verizon hopes that the increase in data allowance, and the ability to carry over unused data, will give them an edge in the already saturated cellular market, according to Forbes.
Since most people already have cellular phones, many of which are smartphones, the introduction of new customers is fairly stagnant. In addition, the high cost of switching carriers, including buying out of an existing contract, potential security deposits, and the cost of a new phone, often prevent customers from switching carriers unless there is a deal that is too good to pass up or service with the existing carrier is awful. Verizon hopes that the “More for More” offering will be that piece that tips the scale.
More data. More control. More of America’s best network. #IGotVerizon https://t.co/x5SVaT5p8h
— Verizon (@verizon) July 8, 2016
Although Verizon Wireless is making a move to gain more customers, other carriers are not sitting on the sideline. T-Mobile has offered data-free streaming with the use of services such as Netflix, realizing that watching movies on mobile devices has become a data hog. Sprint has attempted to slash prices, although the decrease has been overly limited to new customers, as existing customers are forced to remain with the high rates and the potential for overages. US Cellular’s attempt to retain customers by focusing on customer service has seen a decline since the passing of beloved CEO Jack Rooney. The company has a new focus on shared plans, including varied levels of data from 1Gb all the way up to 75GB.
With an eclectic variety of offerings to cellular customers, it remains to be seen if Verizon Wireless’ updated plans will capture new customers and retain old ones. However, the ever increasing cost of cellular services from all carriers has many wondering when the customer will get a break and finally receive affordable services with great coverage.
How would you rate your cellular plan?
[Image via Ken Wolter/Shutterstock]
