One of the most interesting aspects of Verizon Communications' marketing approach for its FiOS broadband service has a been a referral program that gives customer's $50 for each friend they refer who then becomes a Verizon customer. It seemed like an especially good idea as Verizon has begun to enter the multi-dwelling unit market. The telco has not revealed details about the success rate of the program, but Verizon has decided to add voice service to the customer referral program, indicating that it has had some success with it. Customers can earn up to $150 worth of billing credits if the referred customer buys three Verizon products, and customers can refer up to 12 friends per year. At a time when voice revenues and lines are dwindling, it certainly couldn't hurt. More telcos should look into such marketing ideas influenced by the social network world.
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