Shrinkabill is a service that negotiates business, nonprofit, and personal bills to obtain better rates on behalf of our customers. We are willing to try to negotiate any bill, unless it is debt or government regulated, but we have a list of bills that we see more often than not. Here is a list of the most common bills that we negotiate: internet, TV, phone (inclusive of cell phone), gym memberships, trash services, satellite Radio, home automation, security. Our fee is commission based, where we charge 45% of any savings earned on a bill. Since we are exclusively commission based, we do not charge a fee on any bill that we were unsuccessful in negotiating.
So it is no secret that a person can negotiate their own cable, internet, or phone bill, along with many other types of bills. Although many people know that they can do this, it is clear that the majority of the people do not. If it was popular to negotiate with your service providers, then service providers would stop playing these pricing games. It costs each of these companies an incredible amount of money and energy to operate the call centers that field these negotiation calls. If it was not worth the investment, companies would simplify their pricing and close the call centers to increase their earnings.
Below you will find three other strong reasons why it is advantageous to use Shrinkabill to negotiate your bills rather than doing it yourself.
1. Shrinkabill Renegotiates Expired Savings.
This is probably the biggest reason to use a Shrinkabill’s professional service. Shrinkabill tracks when savings expire and renegotiates rates so our customer’s savings will never lapse. Most DIY negotiators are not as successful in following-up on expired savings. Only 43% of the DIY negotiators are successful in renegotiating discounts. (Reference:http://www.consumerreports.org/cro/news/2014/03/5-steps-to-negotiating-a-lower-cable-bill/index.htm). This is a pretty lousy statistic for DIY negotiators. Therefore, roughly 60% of the DIY negotiator community is failing at this game. For the remaining 40%, I still have questions about their diligence, timeliness, and consistency of following up.
Notice that the Consumer Reports survey does not ask if you always follow-up, but if you have ever followed up and have been successful. This is a big difference. If I had to guess, I would say it is closer to 20% of this 43% are consistent in trying to follow up on all bills. This mean only about 5% of the DIY negotiating community are potential winners at the game. However, another question needs to be asked, which is how much of a delay is there between negotiations? Having even a three or four month delay would probably mean it would be worth using Shrinkabill’s service. Therefore, I think it is safe to assume that Shrinkabill’s consistent savings (after factoring in our fee) will outperform almost all DIY negotiators.
2. Customer retention specialists are pros at keeping your price as high as possible, so it helps having a pro in your corner.
We track current promotions and track all historical negotiations. Therefore, we know what a provider's lowest price really is. We also know what to say, how to say it, and when to stop negotiating. (Yes, I did say stop negotiating. If you over negotiate by calling in too many times, you can lose your leverage. Phone calls are tracked and you can become the boy who cried wolf.)
Retention specialists have tiers of discounts and are highly motivated through commissions and performance reviews to retain customers with giving the smallest discounts as possible. (Reference: http://www.vox.com/2014/6/5/5780348/comcast). As a result, the retention specialists will try to throw a lessor discount at a caller in hopes to satisfy them. Many DIY negotiators will fall for this tactic and end up paying a higher rate, which is why it could be advantageous to hire Shrinkabill.
3. The process is uncomfortable and time-consuming, and Shrinkabill limits your involvement to almost nothing.
America outsources tasks every day. Sometimes we delegate unpleasant tasks, such as painting, while other times we delegate tasks for convenience, such as fast food. I believe Shrinkabill can fall into both of these categories. If a client sends in 5 bills, it may take him 5 minutes to submit everything. However, if he tried negotiating on his own, that 5 minutes would easily turn into 5 hours.
Americans will waste more than 100 million hours waiting on hold this year alone. (This averages to about 17 hours per person). (Reference: http://www.marchex.com/2016/02/02/talkative). I do not believe this is by accident, as companies like Comcast use this as a deterrent to try to keep you from calling in to cancel. Why waste this time, when you could have more money in the bank by delegating this task?
Anyway, I apologize for writing a book. However, since this is such a new type of service, I believe the additional explanation was warranted. Let me know if you have any questions.