Vonage to change its marketing strategy, and CEO
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Michael Snyder at the head of Vonage is now a thing of the past. Appended the last February 8 to run Vonage’s day-to-day operations, he resigned from his position of CEO, after a bad quarter for the company. Jeffrey Citron, previously Vonage’s chairman and now taking the interim, also announced some changes in the marketing strategy. The plan includes a 10% lay-off of the 1,800 workers and marketing costs reduction by $110 million in 2007.
The cut represent nearly a quarter of what Vonage used to spend on marketing to gain new customers. Up to now, massive marketing expenditure was the path Vonage used to follow to catch on with its competition. Its lawsuit against Verizon (lost by Vonage so far) and its still weak market share are two of the reasons the Internet phone company is reconsidering its strategy.
Apr 13, 2007 | By Nuno
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