Verizon launches national $300 trade-in credit promotion, tries out regional offers

Verizon Wireless (NYSE: VZ) recently launched a national promotion to give customers a $300 gift card when they switch and trade in their phone. Meanwhile, according to research firm Wave7 Research, Verizon is also running two regional promotions, including one in Chicago that offers up to $650 in credit.  

Under the $300 national promotional offer, which Wave7 said Verizon kicked off on Oct. 16, new Verizon customers as well as existing customers who want to add a new smartphone line can get $300 for their old phone.

Customers who want to take advantage simply add a new smartphone and must pay for it through Verizon's equipment installment plan. They then complete their trade-in appraisal of their existing phone during checkout. When prompted online, customers click "trade in old device" and are taken to a device recycling page to appraise their old smartphone. Customers need to send in their phone and it must be in good, working condition and will receive a box to return it within five days. New Verizon customers will receive an electronic gift card within two weeks and existing Verizon customers will receive an account credit in one to two billing cycles.

Existing Verizon customers who are simply upgrading a line are not eligible for the offer, according to Wave7. According to the firm, which spoke to Verizon sales representatives, the new $300 offer appears to be Verizon's lead promotion for the fall prior to traditional Black Friday promotional efforts. "Such a push would be consistent with past practice and Wave7 Research believes that such an effort is likely," Wave7 said.

It's unclear how long the $300 offer will last, and Verizon representatives did not immediately respond to a request for comment.

AT&T (NYSE: T) Mobility is currently running a promotion that offers a $100 bill credit within 90 days for switchers when they move to AT&T and purchase a phone through AT&T Next, the carrier's EIP option. AT&T is also offering a $200 trade-in credit.

Meanwhile, according to Wave7 R, last weekend in Chicago, Verizon launched TV, radio and print advertising for its new regional Early Termination Fee buyout offer of up to $350, which, along with its existing $300 offer provides an offer of up to $650. The headline of the print ad reads, "Switch to the better network. And get up to $650." Print ads appeared on Oct. 18 in the Chicago Tribune, the Chicago Sun-Times and the Chicago Daily Herald and it appeared on Oct. 16 in Chicago's RedEye. The offer is available in Chicago, and according to Wave7, sales representatives say it is available in parts of northern Illinois and northwest Indiana.

Additionally, Wave7 said that on Oct. 8, Verizon launched an offer in its Central Texas region, which includes northwestern Louisiana, which waives line charges ($20 per month) for new customers who choose data plans with 18 GB or more of larger tiers launched in Verizon's. A radio ad pitches this as "savings of up to $80 a month for a family of four." A 60-second radio ad pitching the offer has aired 726 times in the region, according to Competitrack, Wave7 said.

Verizon representatives did not immediately respond to a request for comment about those offers.

For more:
- see this Verizon page

Related articles:
Verizon adds 1.3M postpaid subs in Q3, sees jump in EIP adoption in shift away from smartphone subsidies
T-Mobile brings back promotional $120/month plan for 4 lines, each with 10 GB of data
Sprint adds more data options for DirecTV customers who switch - but they're not free
Analysts: Verizon's new plans could hurt net adds short-term, will boost profits long-term


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