Customer churn happens, but it’s worth trying to win back lost clients. Repeat customers spend 67% more than new customers, and almost everyone feels loyalty toward a particular brand or company.
Instead of only pursuing new business, focus on winning back previous clients. They’ve already worked with you, so they’re familiar with you and your promo company. How can you re-engage this audience? A post on the noCRM.io blog offers a few ideas. We highlight the post in this issue of PromoPro Daily.
Identify and segment lost customers. When it comes to winning lost clients, data plays an important role. You first need to know who you’ve lost and then segment them accordingly. The post says that without a clear picture of who you’re targeting, you won’t have much (or any) success in engaging them. One of the best ways to segment them is why they left. For example, a client who decided to work with a competitor is much different from a client who decided they don’t need promo right now at all. The post recommends focusing on your highest-priority clients first — in other words, those who will provide the most value to your organization.
Take a personalized approach. Always get as personalized as possible with your communication. Address the client’s specific concerns or their reasons for leaving. According to the post, this isn’t a time to be vague or general. Be as precise as possible so lost clients know you understand their current situation. A great way to do this is to give them a reason to pay attention to your promo company again. Maybe you provide first looks at new products or special incentives. Try to tailor your offers to data you’ve analyzed on their previous behaviors, the post says.
Embrace multi-channel communication. According to the post, the more channels you use to target churned customers, the better your chances of re-engaging them. Use emails, social media and direct outreach. Just remember to focus on quality communication in every medium you use. Bad content is worse than no content, the post says.
Improve the customer experience. While not truly a tactic for re-engaging lost clients, doing this can help reduce client churn in the future. Always strive for continual improvement. Learn from lost clients on what you can do differently.
When a client leaves, you may want to move on quickly. However, re-engaging them can often be easier and more cost effective than always trying to land new clients. Reach out with empathy and try to address any pain points. A thoughtful approach shows your past relationship matters, and you can offer them the promo solution they need most.
Compiled by Audrey Sellers
Source: The noCRM.io blog. noCRM.io is a lead management software designed to help sales teams convert prospects into customers.
