In February Yahoo finance and Zack's Equity Research downgraded Time Warner Cable (TWC). "We are downgrading our recommendation on Time Warner Cable Inc. (TWC) to Unde rperform backed by the company’s weak financial guidance for 2013. The company is losing video subscribers without any interruption since 2009. We do not know when this trend will ultimately reverse." This was followed by RBC Capital , Scotia Capital, UBS, Guggenheim, Wells Fargo, Barclays and Deutsche Bank, which have all downgraded Time Warner as well.
Yahoo Finance is contributing the downgrades due to, "The multi-channel video market in the U.S. is almost saturated. Roughly 87% of the total 114 million TV household in the U.S. are at present multi-channel TV subscribers. It is not easy to gain customers from competitors since each and every pay-TV operators are offering innovative packages."
What Time Warner Cable doesn't realize is the inherent value in it's current customers. As a previous Fortune 500 executive I remember quickly some of the fundamental rules. It cost more to gain a new customer, than keep a current one. Give managers responsibility and accountability to resolve problems, not report on them. When in doubt, escalate. TWC doesn't seem to get the basic good business building blocks that most of us want to see. As a customer we are told to go online and log into our account and add services, manage our account, get support, talk to a representative, or order the latest media. In reality the TWC site sends it's customers in circles, logging in and out or requiring when logged in to their personal account page, "Are you currently a customer?" with a series of generic questions following. Pages like these tell the customers we don't care about you or helping you. We want you to give up and not complain, but we want it easy for you add more services and buy products.
Today I have personally spent no less than 4 hours trying to get TWC to cancel cable I didn't order. It should be easy you would think. However, I called the representative and they quickly informed me "If you didn't order services, then I can't remove them". Which in a way is logical, If they have not been ordered, they would not be on my account page, nor would I be billed for them. Yet I just paid an additional $167 on top of my $69 monthly internet charge for services I didn't order. I cannot cancel, because they have not been ordered, but they are on my bill. So how did they get there after 8 years of internet service and two homes and never telephone, cable TV, sports packages or any other Time Warner Cable add on.
Next comes the conversations between me and TWC's support personnel. So we click the magic button "CHAT NOW" button. Finally, I'll be done....or so I thought. Here we go like the little train that could, I'm logged in to my account, given my information, exhausted all the FAQ's, IOU's and F*'s. I'm excited, someone will actually help me, and up pops a new page.
"Chat is a great way to contact us with questions while you're online.
- Live Chat is available 24 hours a day, 7 days a week.
- Please note: You will not be able to downgrade or disconnect service via chat.
- Please visit the Call Us section below to contact one of our customer service representatives. (of course the "Call Us" page sends me back to a FAQ page, which tells me I can manage everything in my account from the next page, which sends me back here to validate who I am by logging me out, so I have to log back in, only to tell me I need to go "Call Us" or TWC support).
Minimum System Chat Requirements
- Windows XP, Windows Vista or Windows 7 with IE7+ or FireFox 3.6+ or Chrome 10+ Macintosh OS X or higher with Safari 4+ Tablet and Cell Phone Users please visit our Mobile Site to chat.
- IE 10 users please call for assistance until this browser is supported.
Are you currently a Time Warner Cable customer?
- Yes
- No
- First Name
- Last Name
- Phone (e.g. 555-555-5555)
- Email(e.g. joe@email.com)
- What is your question about?
- For faster service, briefly summarize your question."
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My responses are as follows:
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- First off. why is this screen IN MY ACCOUNT PAGE where I have LOGGED IN via a SECURE PAGE and being now required to answer these questions?
- Am I a customer? Not by choice.
- Why I need billing and account issues looked at. The wind had blown a cable from the telephone pole last week, causing my internet not to work. A repair ticket was issued, and a technician came out and replaced all of the connectors (splicing cable's together) and repaired the junction box at the telephone pole. He requested I boot my computer to see if the internet had been repaired. Since I do United States Government work, it takes time to power up the system. He went into the living room to do paperwork I believe as the system progressed. The system was up and working. He said I should turn on the Television's and check to make sure they are working also. I turned them on saying that "The TV's work fine and have, it's the internet that was not working". I have DirectTV Satellite which does not effect nor interfere with the internet, nor could TWC repair it if it was not working.
- Several days later a bill arrived ADDING Basic Cable and Extended cable and requiring me to PREPAY March and part of April for $167.00. WHY?
- I did not order ANY services. I dd not order basic cable or extended. I do not have ANY equipment to use those services, nor have I EVER HAD ANY!.
- Three years at this location and NOT USING TWC television, and USING TWC Internet with NO changes, WHY ARE YOU ADDING SERVICES I DID NOT ORDER, NOR DO I WANT TO?
- Your standard internet service and Turbo Pass addition is what was ordered originally. TWC agreed to supply internet DL speeds of up to 15Mbps, and gave a monthly price I agreed on. My cost for this has been $67.95 per month since origination. Currently for non customers special bundle pricing with a 30 day guarantee of $59. or $79 if I want 20Mbps DL, WiFi from the cable box, Email accounts, antivirus, and 200 channels of HD television. Not only am I being charged more than current pricing and my DAILY speed test shows a consistent speed average of 1.93Mpbs with boost up to 2.94Mbps. That's significantly lower than the 15Mbps promised.
- I would like to know why you are over charging me.
- Why TWC has added services not ordered by me, or anyone else, and billing 41.24 days in advance for services not requested?
- How are you, and when are you going to remedy these issues? Who will be doing the work?
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Chat session with Time Warner Cable representative:
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Connected Analyst Caira is here. Status: Working
Caira>
Thank you for contacting Time Warner Cable. You will get a brief survey in the end of the chat. My name is Caira. Please give me a moment to access your account.
Jonathan_>
Good Morning. This is Jonathan. What Country are you in? are you a Supervisor?
Jonathan_>
I will wait.
Caira>
Good morning Jonathan!
Caira>
I am located in India and I'm a customer care representative.
Jonathan_>
OK, thank you Ciara
Jonathan_>
Caira...I'm sorry
Caira>
You're most welcome.
Caira>
That's okay.
Caira>
I have read your statement.
I would be glad to assist you with the concern.
Caira>
Please give me a moment while I check the details.
Jonathan_>
As you look through the billing records and account history, you will see that the internet has been monthly for several years, and NO TV service.
Caira>
Let me check that for you.
Caira>
I am not able to access the account with the phone number that you have provided. Can you please provide me with the account number and your current complete service address?
Jonathan_>
****************
Caira>
Thank you for the account number.
Jonathan_>
212-555-5642
Jonathan_>
Otherwise it's one of 8 other numbers :D
Caira>
Thank you for the information. I appreciate your sense of humor!
Jonathan_>
The current bill and additional money requested has been paid rather than being late n the account.
Caira>
I can see that we have been receiving timely payments and the account is in good standing.
Caira>
The account is updated and the balance due is $0.00
Jonathan_>
correct
Caira>
Just to confirm, you have added the cable services to the account and it is not working properly. Am I correct?
Jonathan_>
Not even close
Jonathan_>
I did not add ANY services
Jonathan_>
I did not request any services to be added
Jonathan_>
but I still paid for them.
Caira>
Thank you for the information.
Caira>
I am so sorry for the confusion this has caused.
Caira>
Please give me a moment while I provide you the best possible solution.
Jonathan_>
So am I. Imagine going to get gas in your car and you say fill it up. You come out and they have placed 4 new tires on your car on top of the old ones, and hand you a bill that you must pay before you drive off. So you ask for them to take off the tires because you can't drive like this. They apologize and understand, then tell you to go to this shop around the corner to have the tires taken off. Then you can drive your car away. REALLY? THIS IS LOGICAL?
Caira>
I can certainly understand how frustrating this must be. I would have felt the same.
Caira>
Let me sort this for you.
Jonathan_>
Thank you
Caira>
You're most welcome.
Caira>
Since you have not requested for the cable services, I would advise you to call 1-888-TWCABLE or 1-888-892-2253 and cancel the cable services. Also, I will add the notes to ensure that you get the appropriate billing and the charges to be reversed of the cable services. Adding the notes will ensure that this is kept priority.
Caira>
Would that be okay with you?
Jonathan_>
Since I did not order service, only you or a manager can request that it be cancelled.
Caira>
I would have been glad to process this request for you; however, we are not authorized to cancel the services and you will need to call the above number to cancel the services.
Caira>
They are the authorized department to cancel the services. I am once again very sorry for the inconvenience this has caused.
Jonathan_>
I would advise you to speak with your manager for a moment
Jonathan_>
They are the one's to cancel, yes. however, your department is the one that needs to REQUEST the cancellation from THEIR department.
Caira>
Jonathan, I have consulted this with my supervisor and you will need to call 1-888-892-2253 to cancel the cable services as they are the higher level of support and are the authorized department to cancel the cable services.
Jonathan_>
Yes I realize that, but I have been told that since "I" did not order the services, I cannot request them to canceled. The request to cancel services that are not ordered has to come internally, since they were added internally. You are supposed to ask your manager. Your manager is supposed to call them and request the cancellation on my behalf. Then they know it's an official order of cancellation for services not ordered vs canceling services that have not been ordered and just canceling ALL services. (am I the only one seeing Abbott and Costello routine here?)
Jonathan_>
I realize it's complicated, Try being a customer and and told this :D
Caira>
I can understand your concern. I have consulted this with my supervisor and provided you the resolution.
Jonathan_>
Would you please give me your supervisors name and ID Number (NOT telephone number). I thank you and realize you are only doing what you're told to do.
Caira>
Thank you for understanding my limitations.
Caira>
My supervisor's name is Alex and the ID is 408871.
Jonathan_>
I'm sure most people just yell at you. I have no clue why that would happen.
Caira>
Thank you for choosing Time Warner Cable as your service provider. Is there anything else I can assist you with?
Jonathan_>
I will call 888-892-2253 and request per your department that the they cancel basic cable and extended cable services since they were not ordered.
Jonathan_>
I think we are finished.
Jonathan_>
आप सभी के लिए आपको धन्यवाद देता हूं caira सहायता एक आश्चर्यजनक शाम है.
End Session
Should I crunch the numbers of time involved with TWC personnel and whats it's costing Time Warner Cable in real dollars for the basics in desk space, software licensing, T1 lines, hardware end life costs, server support costs, server administration costs, accounting costs, marketing costs, management costs, data storage costs, processor costs, retirement fund administration-pension fund and investment costs, associated tax and support costs, wireless costs, help desk costs, recovery costs, recidivism costs, and we haven't even put in Wall Streets downgrade costs yet.
I will update you all with my next tweet's, if I don't lay an egg first!