Why Verizon created its ‘Verizon Value’ organization

Subscribe to us on Apple Podcasts, check us out on Spotify and hear us on Stitcher. This is our RSS feed. Tell a friend! Verizon has made headlines this week, from announcing the departure of Chief Marketing Officer Diego Scotti after more than eight years at the company, to the telecommunications giant rolling out a new, flexible plan called “My Plan.” But there's one strategic move by Verizon that hasn't been as widely discussed: the Verizon Value organization. The company created the group late last year to house its pre-paid brands—such as Visible, Total by Verizon, and others. Pre-paid plans tend to be geared toward budget-conscious shoppers. But as Cheryl Gresham, CMO and VP marketing for Verizon Value, discusses on the latest Marketer's Brief podcast, Verizon is targeting each value brand at different consumer segments. Sign up for Ad Age newsletters From influencer marketing to agencies, get the latest news and analysis delivered to your inbox Click here Gresham, who previously served as the CMO of Visible, joined Verizon Value in December, one month after it was created. Verizon Value's goal is to ensure “that we are serving the needs of all of our different customer targets and segments,” she said. With so many similar brands under one umbrella, there's an inherent cannibalization risk. Part of Gresham's job, then, is differentiating between all the different “Verizon Value” products. For instance, Visible is a direct-to-consumer digital wireless carrier founded in 2018. “Visible, that consumer segment for us is usually somewhere around a millennial, maybe a little bit older, a little bit younger, they're very digitally savvy. As I always say, they do not need a 1-800 number and they do not need a store to get wireless service,” she said. View this post on Instagram A post shared by Visible (@visiblemobile) Total by Verizon is a pre-paid wireless retail brand under Verizon. It is “something that we are going to be rolling out in stores in the future this year and beyond,” Gresham said, adding that Verizon Value is “very aware” of the potential for cannibalization and that they want to do a good job of avoiding it. “The good news is there's a lot of people who need wireless plans,” and a lot of them have very different needs as consumers, she said. Subscribe to Ad Age Sign up now for the latest industry news and analysis Click here

Why Verizon created its ‘Verizon Value’ organization

Featured Stories