Negotiating Tips to Use When Your Promotional Rate Expires
They lure you right in.
“Try this product, this service, this utility, the first in this amazing series of whatever, at the very low, introductory rate of XYZ and, you’ll see why this is the greatest thing in the entire world.”
It’s called a Promotional Rate and it’s a very effective way of getting new customers to first try something new and then hook them into the much more costly regular rate (hopefully, without them even noticing).
But at Squeeze, we help you manage your finances and spending, we want you to notice. And we also want you to know after the promotional period expires, you STILL have the power.
It’s true. If you love what you tried, you can usually negotiate to maintain it for a “much better than the usual” price.
Here are five things you need to know before making that call:
Do your research
What is this company now offering new and existing clients? What’s the competition offering? What if you agree to different terms (contact vs. no…6 months vs. 25 months)? Ask for the best deal they can give you.
Make sure you’ve paid your prior bills on time
Every time and use that as leverage. If you do, it’s even more likely they won’t want to lose you.
Understand your worth
It cost a lot of money for the company in question to get your business. Internet Service Providers, for example, spent THOUSANDS to acquire you as a customer. Now that they have you, chances are they’d rather you pay less each month than lose you to the competition.
During your call, be a combination of nice but firm. One of the most notoriously difficult jobs in the world is customer service, so please, be kind to the representative and listen to him/her (always, but especially when you’re asking for something). By that same token, do not be a pushover. If you’re not satisfied, ask respectfully who else you can speak with…there’s bound to be a supervisor or manager nearby.
Be truly ready to walk away if you need to
If the company isn’t working with you (and some truly may not), know that there is always another source for whatever you need. Also know that some of the most powerful words you can say are, “ok, then I’d like to cancel my plan.” Sometimes that’s what it takes for an exception to be made.