Virtually every brand knows the feeling. It’s that sinking sensation experienced when hammered by the latest customer attrition statistics. Yes, once-devoted shoppers are breaking away from your beloved camp, sometimes producing a sonic boom in the process. But no matter what the pace of exit, one disturbing fact looms – customers are rushing from your doors. “Ouch!,” goes the bottom line. Customer retention is something that needs to be a priority.
These fleeing ex-loyalists typically arrive at one of two points – either they abandon the product or service altogether. (Who needs an automatic taffy-puller, anyway?) Or they attach to another brand like barnacles.
What’s a Brand to Do?
To help with retain customers, many respond to the dreaded customer exodus by developing intensive win-back campaigns. These are clear re-entry paths designed to lure fleeing flocks back home. Often, these strategies are successful – provided they incorporate certain steps. Two of the most important are:
Identify the Main Breaking Point. In many cases, brands will sense something is afoot long before sales figures pour in. For instance, customers may unsubscribe or ditch the app you’ve so laboriously developed. These are hardly encouraging developments. But they can be counteracted by swift and appropriate action. Utilizing statistical analysis (or the nearest crystal ball), marketers can predict when the greatest number of people will disconnect. The solution? Shortly before break-away time, marketers can fire off a persuasive email message or mobile notification. Content of said communications will shout out your brand’s undeniable virtues – in whatever way you choose to do the shouting.
Ask the Right Questions. Once customers have detached, a brand has one more chance to keep them in range– Understand why they fled. Understanding may be attained via the final, ‘sorry to see you go’ email, which asks crucial questions such as: “How can we better serve you, friend?” This concluding message also will benefit by the inclusion of juicy incentives. These may be the reinforcing of a brand’s value, as well as a reminder of how easy it is to re-connect. Just click or call.
If you have any questions or comments about regaining lost customers, or about any other brand-related topic, feel free to send them our way.