Here's the Exact Script To Use To Cut $43 From Your Internet Bill
Who hasn’t had the unfortunate experience of opening their monthly internet bill to discover their rates have increased? Well, before tossing the envelope across the room in resignation, consider some important wisdom: these prices are not unchangeable.
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Cody Schuiteboer, president and CEO of Best Interest Financial, explained most customers are unnecessarily overpaying for internet without realizing it. In fact, Americans can save anywhere from $25 to $60 per month (an average of $42.50 a month and over $500 annually) on their internet bill if they call their provider and know how to properly negotiate. Here’s the formula for success.
Prior to the Phone Call
Prior to calling your internet service provider, do some research. First, find out the rate your current internet service provider is offering new customers. Next, find out the rate another internet service provider in your area is offering new customers. The rates offered to new customers are lower than the ones offered to long-term, existing customers.
Armed with this information, place a call to your provider’s retention department — not customer service. Per Schuiteboer, customer service has limited authority. However, a retention specialist’s entire job consists of trying to keep you as a customer. Most representatives receive compensation for their “saves,” meaning they have plenty of incentive to help you.
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The Script To Use
Schuiteboer recommended starting with the following script.
“Hi, my name is [name]. I have been your loyal client for [X years]. However, my monthly bill recently increased to [$X], and I saw that [competitor name] offers the same speed for [competitor price]. I prefer to remain a client of yours if you offer me a price similar to theirs; otherwise, I need to start the process of cancelling.”
Because it costs them more money to completely lose you as a customer versus giving you a discount, most will offer you a lower amount. If they refuse, ask a second time. “As a rule, after you ask for the second time, most providers will be ready to give you a discount,” said Clay Cary, senior trends analyst at CouponFollow.
But don’t stop there. If they agree to a discount, it’s probably a lowball offer. You can still do better because, again, they don’t want to lose your business. Schuiteboer recommended following up with the script below.
“Thank you, but it’s still a lot higher than the promotional price offered to new customers. Is there any special discount or credit you can apply in my case?”
Sometimes they will cave. If they refuse, don’t forget to ask a second time. But approach it like the following.
“I understand your position, but I need you to connect me to the cancellation department or to another rep who can help me arrange it.”
Per Schuiteboer, this request typically opens access to a whole new tier of discounts on your bill. And that’s exactly what you want.
If the Company Outright Refuses
If your internet service provider won’t budge on their rates, there are still some steps you can take to lower your bill.
Explore Eligibility
Find out whether you qualify for promotions, loyalty discounts or government assistance via the Lifeline program.
Downgrade
Most people are paying for 500 Mbps to 1 G when they’re using just 100 to 200 Mbps. Downgrade your internet speed to save money.
Call Back
No two support agents are created equal. If you land a different representative, you may wind up with better results.
Schedule the Cancellation
Schuiteboer stated that if you follow through and schedule your service to be cancelled, there is a 40% chance you will receive a call within 72 hours offering you a better rate.
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This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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