With the rapid growth of subscription based business models, companies have soon realized the importance of retaining old customers. Hence, it is one of the key areas for them to focus on how to re engage old customers. It is a much established fact that the probability of selling to an existing customer is 60-70%. Whereas the probability of selling the same product to a new one is 5-20%.
The reason for this being the new customer goes through a longer journey towards product adoption than the existing one. The stages where they become aware of your product and learn to use it are already travelled by existing customers. Thus, the cost of marketing your product for customer acquisition gets nullified when it comes to an existing customer. This makes it not only easier but also cheaper for the companies to sell to the existing customers.
One of the biggest mistakes companies make is they abandon the customer who stops responding to their communication. Customers can have numerous reasons for ceasing the business with you that you may never know. That could range from dissatisfaction with your service to any other internal reason which might not be relevant to you. Hence, it is always wiser to not give up on them but pursue them further with your latest tactics.
Having said that, let’s look at a few steps you may take to re engage inactive customers with your brand.
Send them a valuable letter by post
With so much competition in online marketing, there are pretty good chances that your customer’s email inbox often gets flooded with lots of marketing emails. So, even if you send them your emails they might not even open it let alone reading it. That’s why sending them a simple old-fashioned physical letter will have an immense impact on them.
Along with a short personal note, you can include any valuable information in that letter. That could be a knowledgeable article about their industry, a newsletter of your company, or any other interesting material.
One of the important thing to ensure is that the personal note you include is hand written. This will have an added impact and will enable them to think about you in a positive manner. This gesture of hand-written letter has always been useful in strengthening relationships since times immemorial.
Send relevant emails
With so many companies trying to sell their products, customers are often overwhelmed with the emails these days. Sending them emails directly targeting your sales pitch will not have any impact on them. After the first few times, they would easily be able to guess what’s on the mail. Hence, there is always an advantage if you send something valuable in your mail for them to engage.
It can be something about their interests which they must have shown while signing up for your service. This will no doubt require some extra effort to personalize the content but will surely add more impact than sending the same old format to the large audience.
Email retargeting is one of the most useful marketing strategies of present times. In this, the retargeting cookie of your customer is used to display your ads on the web pages they visit after they have clicked on your email. And when they don’t click on your emails then there is a solution for that case too.
All you need to do is create a list of your inactive customers’ email ids and upload it on a retargeting program. This program will automatically take care of displaying your ads on the web pages visited by them even if they didn’t click on your emails.
When consumers see your ads on the web pages they visit, it gives them a little extra push to reconsider your brand. It has been surveyed that website visitors who are retargeted with this kind of strategy are more likely to convert by 43%.
Send them wishes on special occasions
If you are trying to figure out new ways on how to re engage old customers then wishing them on special occasions is not a bad idea. Occasionally sending them warm wishes on Christmas or any other festival is a clear indication that you think of them more than just targeting for your sales.
Besides, sending them birthday wishes is an even more personalized action which would be received gratefully by them. You will sure have to do some research on their social media accounts to find out their date of birth. Then you can save those dates for numerous customers in your CRM software. The set reminders will help you take appropriate actions at the right time.
It is better to not just say “happy birthday” but also add a personal note to show how much you valued them when they were your customer. Sending them may be a physical greeting card would add extra miles to your re engagement strategy.
Invite them to an event
When it comes to attending events, everyone likes to be invited to an event hosted by a company. You can host these events quarterly, semi-annually or annually and ask them to join. Make sure that these events include powerful sessions on any kind of value addition you can give to them. You don’t have to sell your products right away.
The most effective event where customers respond contains 90% of the content that adds value to their business. And only the last 10% of the event should talk about your own business and give them an opportunity to join. Hosting events like these will help you ensure that you don’t lose touch with your old customers for more than six to twelve months.
These steps are surely a slow cooking strategy to re engage inactive customers. Hence, remember that it takes time for these strategies to work. If you are in a subscription based business model then customer churn is an inevitable phenomenon. Yet, with the right strategies in place and a patient mindset re-engaging your customers is definitely achievable. If not completely then mostly for a considerable percentage of your customer count.