When Your Contract is Up, do you tend to Renew (for another 2-year contract) or pay on an Off-Contract basis? I would assume most would go off-contract and pay month-to-month with a one year price-lock guarantee. Technically, we all would have been considered valued customers sometime along the lines of the initial contract.
I did some price comparisons between 2-year contract and No-contract, and pricing and other discounts doesn't seem to make much of a difference for existing and new customers.
Apparently, Verizon doesn't call their retentions department retentions, they are referred to as account specialists.
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