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BT say NEW Customers more valued than Shareholding with them for 50+ years

Hi

My Parents have been with BT for over 50 years and have been Shareholders since day one of them being offered But despite my writing to the Investor Relation Dept of BT and getting offers of help to se4arch for deals from Executive Level Staff they are not being offered prices anywhere near those that BT are currently tempting new customers to join them with

Not surprisingly, (to me anyway), my Parents are looking at the prices and Gift Vouchers being offered by other Suppliers and despite the Level of Loyalty detailed thinking seriously of leaving

So can ANYONE explain the LOGIC of BT, (or any Company), pushing lots of old Customers away via surreal pricing for, (as yet unproven loyalty), Newbies

Comments

  • footyguy
    footyguy Posts: 4,157 Forumite
    1,000 Posts Combo Breaker
    edited 24 May 2016 at 8:21AM
    chazsdad wrote: »
    Hi

    My Parents have been with BT for over 50 years and have been Shareholders since day one of them being offered But despite my writing to the Investor Relation Dept of BT and getting offers of help to se4arch for deals from Executive Level Staff they are not being offered prices anywhere near those that BT are currently tempting new customers to join them with

    Not surprisingly, (to me anyway), my Parents are looking at the prices and Gift Vouchers being offered by other Suppliers and despite the Level of Loyalty detailed thinking seriously of leaving

    So can ANYONE explain the LOGIC of BT, (or any Company), pushing lots of old Customers away via surreal pricing for, (as yet unproven loyalty), Newbies

    Simples

    It's an age old marketing technique that many businesses have proved successful since way before 50 years ago.

    It known as a loss leader.

    They attract a new customer, and they presumably have evidence that once attracted, they rarely leave. (referred to as a 'sticky' customer). Your parents are a perfect example as they have remained with the supplier for 50+ years, and despite better deals having been available elsewhere for many years, even if as an introductory, loss-leading offer, are still only at the consideration stage of switching supplier.

    A business cannot offer loss leading prices to all existing customers quite simply because, as the name says, selling at that price is a loss to the company, and if they offered that price to everyone, the business would fail.

    HTH :)
  • kwikbreaks
    kwikbreaks Posts: 9,187 Forumite
    If somebody has been a customer for 50 years why bother offering them anything as the chances are they'll stay anyway.

    Loyal customer = cashcow = mug
  • pmduk
    pmduk Posts: 10,655 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    edited 24 May 2016 at 10:08PM
    To be very blunt, you should be asking your parents why they've not pressurised the company they part-own!


    Don't you remember the dire Mark Benton Nationwide ads? They demonstrated the lack of respect for existing customers ETA of many organisations selling their products.
  • VisionMan
    VisionMan Posts: 1,585 Forumite
    Ninth Anniversary 1,000 Posts Name Dropper Photogenic
    Have they ever asked for a discount at renewal each year?
  • Sun-Is-Fun
    Sun-Is-Fun Posts: 243 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    Unfortunately, loyalty doesn't pay nowadays. This is not only with BT but everything else as well, e.g. car insurance, etc. I'd advice them to look up better offers from other providers and leave.
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