Customer Winback Strategies That Work
While we often tend to focus our energy on acquiring new customers to our business, we often forget that winning back those customers that seem to have moved on, is a potential gold mine.
Of course, getting new customers through your virtual doors is vital to your business growth, but retaining existing ones is also vital to your business stability and longevity.
This is where creating highly effective and highly profitable customer winback campaigns really comes into play.
Why?
For two reasons.
One, it’s actually much easier to sell more products to an existing (one who has already experienced your services) customer, than it is to sell to a brand-new one.
Two, it actually costs up to six times more to acquire a new customer, than it is to sell a product to an existing one.
So, how do you go about winning back customers that are either inactive or have moved on?
Customer Winback Strategies That Work
One of the most effective ways to winback customers is through the creation of a customer winback campaign. There are a number of avenues that one can explore here, including email customer winback campaigns, one on one calls, and SMS campaigns.
However, it’s really how you win them back, rather than the method used for communication that can often seal the deal. Of course, calling your customer is often the most personal, while emailing is often effective, since most of us are on email every day.
Here are half a dozen pointers to planning a highly profitable winback campaign:
- Personalise your winback campaign to each customer – give them a call, they’ll appreciate it!
- Providing a valuable incentive will win them back quicker
- Humour is a great way to winback customers
- Don’t be afraid to appeal to the emotions of indecisive customers
- Make the return to your brand effortless
- Create strong opt-ins for those customers who don’t respond to softer winback efforts
Find out more about Player Reactivation in our articles section or get in touch with Andrew Foster, Director of our B2B team, andrew.foster@enteractive.se
