If you are one of the millions of consumers paying for TV and Internet service from a major telecom provider, you may be able to reduce your rates by up to 30 percent. Below are three simple steps that should help you save money without making any changes to your existing service. These suggestions are most effective if you are not in a service contract, or when you use them shortly before your contract expires.
Step 1: Compare Rates from Other Companies
Regardless of where you live, there should be at least three companies in your local area that offer Internet and Pay-TV service. These companies may include Comcast, Time Warner, Dish and or DirecTV.
Take a few minutes to review each of their promotional offers and write down the best you find that is comparable to your current service package.
Step 2: Talk to the Revenue Retention Team
All major telecom providers have what is known as a revenue retention team. This team is dedicated to retaining customers who want to cancel their service.
To convince customers not to cancel their service, the revenue retention team is typically able to offer specially discounted rates. However, you can’t just call your service provider and ask to speak to the revenue retention team. You need to call them and tell the representative that you want to cancel your service.
Think of this request as nothing more than a poker face in a game of cards. If the representative asks why you want to cancel your service, tell him or her that you have received a better offer from a competitor and that you are short on time so you’d really like to move forward with the cancellation process.
Even if the representative offers you a slightly better rate, decline their offer. Once the representative transfers your call, you will know you are being rerouted to the revenue retention team.
During this process, keep in mind that your service will never actually be canceled unless you provide the representative with a cancellation date.
If, at any point during this call, you get cold feet, find an excuse to get off the phone and call back later.
Step 3: Renegotiate Your Rates
Once the retention team member asks you a series of initial questions, he or she will ask why you are canceling your service. At this point, present the best offer you found when researching competitors’ rates, and let the rep know that you are canceling your service strictly to reduce your monthly bill.
More than likely, the retention team member will respond to this by offering you some type of free service upgrade, such as faster Internet speed. Politely decline this offer, and tell the representative that you are strictly interested in lower rates and would like to move forward with the cancellation process. This will generally force his or her hand and lead to an offer that significantly lowers your monthly payment.
Typically, the deal offered to you will be a six-month or one-year introductory or promotional package. However, as long as it does not include a contract, you should be able to maintain similar rates by repeating this process right before it expires.
All things considered, making this phone call every six or twelve months is a nice trade-off for hundreds of dollars you can potentially save each year.
Question: Have you ever called your service providers to ask for a lower rate? How did that turn out? You can respond using the comments feature below.
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