Long-term customers are a valuable asset for most companies: They cost less to service and provide a steady stream of revenue. So why do some companies treat their existing customer base so poorly?

Here’s the latest example. Comcast/Xfinity has been advertising a great promotion to offer high speed internet for low rates that will remain fixed for five years.

That sounded terrific to me, so I called Comcast to find out first, why my existing bills have risen nearly 50% over the last 3 years for the same service, and second, how to take advantage of this great promotion.

The short answer: You can’t. Promotions like this one are reserved for new customers only. And we don’t know why your rates have been going up: just because.

Huh? I’ve been a loyal customer for years—decades, perhaps—and yet my bills continue to rise, while great promotions are only available to new customers. Is this a way to reward your long-time steady partner?

The customer service rep to whom I spoke seemed to understand how bad this sounded, but he couldn’t help beyond offering me a minimal discount for being a long-term customer. What the company was really telling me was they wanted me to break up with them, then maybe if we restart the relationship, they’ll bring me flowers and chocolates and a sweet low rate again.

No wonder that the rate at which customers are divorcing their cable providers has skyrocketed in the last few years. This year, the number of households with cable is projected to be only half of what it was in 2010. Ouch.

You’d think that would convince Comcast to try and hold on to its long-term relationships. But no, they’d rather have a fling with someone new. And experience tells us, that’s not likely to last very long.

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linda@popky.com
(650) 281-4854
www.leverage2market.com