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Highlights
- Verizon is raising prices to push customers to newer plans without the Disney+ bundle.
- Prices for some plans will go up by $4/month starting March 1, 2024.
- Verizon claims the hike will improve their network and add 5GB of hotspot data.
- The move follows a $100 million lawsuit settlement and seems focused on Verizon's profits over customer needs.
Verizon recently sent out emails to certain customers about an upcoming price increase, showcasing a classic example of how not to communicate with customers.
At the heart of this issue is Verizon's desire for customers to switch from their current plans to newer ones, primarily because the older plans include a coveted Disney+, Hulu, and ESPN Plus bundle that's no longer offered, costing Verizon a pretty penny.
The affected plans include a mix of Verizon's "Unlimited" and "5G" options.
Essentially, Verizon aims to phase out these legacy plans by making them less appealing.
They announced a $4/month increase per phone line, starting no earlier than March 1, 2024.
The justification? To "continue improving our industry-leading mobile network," alongside a vague offer of an extra 5GB of mobile hotspot data.
My take
I agree that sometimes cost increases are warranted, but $4/month seems awfully high, given the vague reasoning.
This move comes off as particularly tone-deaf, considering Verizon's recent settlement of a class-action lawsuit over hidden service costs. They agreed to pay $100 million but did not admit wrongdoing.
To me, it seems like they're looking to either recoup those funds by charging their customers more or reduce their costly partnerships with the Disney+ crew.
Whatever you slice it, it's a clear indication that the company values its own bottom line more than the customer experience.
While businesses need to evolve and adjust pricing, the way Verizon has gone about this - reducing the value of existing plans without offering genuine incentives to switch - is a stark reminder of what companies should avoid.
I think I speak for us all when I say that customers don't appreciate being nudged toward a change that doesn't benefit them. Especially not under the guise of improvement or added value that doesn't materialize.
A more straightforward approach, offering real incentives or better deals, would likely be much more effective and far less frustrating for everyone involved.
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