You have a 16% chance
of selling to someone you never did business with before, a 50% chance of
selling an existing client more products or services, and a 25% chance of
reclaiming a lost account. The
Brooks Group
And to top it, the cost to reengage your former customers is
a fraction of what it costs to acquire a new customer. DO NOT MAKE THE MISTAKE
OF NEGLECTING THIS SEGMENT OF YOUR CUSTOMER DATABASE. Unfortunately, about 50%
of this database that was acquired with significant cost goes inactive. You
must realize that this costs you substantially. The cost of acquiring new customers
is higher; customer retention programs are definitely much more attractive. It
is critical that you develop appropriate strategies to reengage these valuable
lost customers.
Here are some strategies to win back your lost customers:
• Make an irresistible offer like a heavy discount or
aggressive giveaway to lure people back
• Send out a survey to better understand their needs and preferences
• Deploy a message that gives them the option to opt out so that
you’ll really know who is inactive
However, before you start employing these strategies, it is vital that you make sure that your message is sent to active email address accounts. No effort will generate any ROI if you don’t ensure this. More often than not, your inactive list is simply the result of sending your marketing campaigns to your customers’ inactive email addresses. So the critical step of any successful win-back program requires you to find the current preferred email addresses of your customers. Combine your best win-back strategy with a list of updated customer email addresses and reap the benefits.
Prepackaged Marketing Data strives to make your email marketing effort a success. Contact us for a free sample and consultation.
