Best Customer Win-back Strategies to Get Your Lost Customers Back
You can win-back your lost customers and spring back on the revenue bar with these six battle-tested Customer Win-back strategies. Read on.
Engaging with a product can be as instantaneous as disengaging. Yes, you heard that right! Signing up for a subscription is as easy as logging out from the same. That is when a customer win-back strategy comes into force to keep the ball moving. Imbibe a brand-new approach where you start looking at them as customers even when they walk out of your door.
A customer-centric model asks you to invest your time, efforts, and energy into building your product range around your customer’s needs. Nevertheless, it would hurt to see them leave. But know that all is not gone just yet. You can still win back your lost customers and spring back on the revenue bar. Here are 6 such battle-tested strategies that will aid in bringing them back before it is too late.
It is a carefully crafted and calculated marketing plan which is designed to pull back the users onto your application. This strives to retain your nearly lost customers and convert them into active users and keep your churn rate as low as possible. Further, this has been statistically proven too.
As per an HBR report, acquiring a new customer can be a whopping 25X times costlier than retaining a current client. Simply put, re-engaging a non-active customer can actually augment your bottom line. Armed with the stated data, it is wiser to work on the customer win-back processes, including:
Deemed as one of the best ways to engage a customer back onto your app is via email or push notifications. You need to be specific as to what kind of message content goes inside. Tailoring messages to a particular segment of the customer base should work out just right. It shows them that they haven’t been forgotten yet.
Additionally, it is easy for the developers to enabled push notifications with a custom message that incorporates content from their previous transactions. They would more likely make a purchase if they are receiving a really good deal or a special discount. Going generous once a while and winning back a lost gem wouldn’t hurt your business much.
Begin with taking full responsibility for their dissatisfaction or unhappiness. The first step in doing that would be to practice active listening and hear them out completely. Give them a chance to vent out their unsaid dilemmas or apprehensions about not buying from you.
When a customer sees you are ready to acknowledge and address the issue, it strikes a thought in their head to revert and try again.
Needless to say, customer feedback is an essential page on your company’s site. No matter how much you simplify a given feature or an element, it will still not suffice if a customer’s suggestion is not taken into account. You would never know if you could be missing out on a lot of relevant insights and suggestions that could enhance the overall user experience in a way.
Now, know that gathering their feedback is not enough. You will have to transform that into valuable action, which will show the users that you do care on a serious note and are not just doing it for triviality.
Striking up a conversation on any of the social channels can act in your favor. Choosing media opportunities via blogs, videos and posts can enable you to take your business to a different level.
Talking to them about their likes and dislikes in relation to the business can veer your performance on the right track. Moreover, you can enquire whether implementing technology can improve the overall customer experience and be able to rekindle a lapsed client’s interest.
Trust me, running after each and every churned customer is not a great win-back strategy. Know that every lapsed client is not worth pursuing forward. So how do you select your target? Look into your customer success platform’s data right away.
If your data shows that a certain user never headed beyond a 20 or 25% utilization rate or it stated that they had a low product feature adoption or that nothing made them happy and they wouldn’t just stop complaining – there is a good chance that they might not revert at all.
In such a case, trying to woo the bygone client could bring you no profits. However, if in any case, you see the reverse, and that the customer had a high usage or feature adoption, this is where you must go ahead and win them back.
It is a given that a customer wants his or her voice heard and they want their opinion to be mattered. That is where a concept called email marketing comes into play. You can use personalized techniques to alert your users to know that you are listening.
One way of doing that is adding their name on the subject line and also in the body to cater them an individualized feel. Aside from this, you can dig into their past shopping transactions and provide them some tailor-made offerings to win their heart.
Seeing a personalized customer service experience can really work wonders and trigger them to revert and make a quick purchase. Also, assisting them via multiple channels such as chat, phone or email can ensure that their say is being reached out seamlessly.
Although losing a single customer might not devastate your business but the very instance of churn signifies that the customer experience has room for enhancement. The best customer win-back strategies focus on nurturing and cultivating a successful customer relationship. If you begin acknowledging your stance in a client’s decision to shape your service as per their needs, you do stand a chance to win back a nearly churned away customer and strengthen your bond.
Originally Published December 23rd, 2020, Updated January 8th, 2021
Simran hails from the content marketing backdrop with extensive knowledge in blogs, articles, and technical whitepapers in the non-fictional domain. She uses her 'gift of the gab' to explore new possibilities on her way and to make an exquisite impact on her readers. In her spare time, she likes to read journals on artificial intelligence or play with her cute kittens.