How to win back lost customers? It is a crucial question we had to discuss and answer, most common businesses now concentrate on retaining existing customer because it is cheaper than wining new ones. They make great efforts to make sure that they’re keeping their customers happy and satisfied.
However in the real world that is not always working, especially when the circumstances is not under-control and unstable, due to entering of new business and when customers decides take the business elsewhere which means that they’ve declined from one brand to another.
Even if you know that your loyal customers are the most profitable for your business and the return on marketing, you’ve to start formulating new strategy for winning back lost customers.
Here’s 5 ways to win back your lost customers:
1- Decide if you want them back
Not every customer you lose is the perfect one, some of them are difficult to work with and they may be not good to obtain them again. The only optimal way at this point to make sure that they are leaving happy and they will always talk well about you and that they will continue to refer you.
2- Find out exactly why they left
Is the customer that has left is very important to you and you want them back? So, go through the heart of why this one left and be honest with your-self that “customer won’t walk away without any reason”. If their issue is the price so there’s a disconnection between the price and the value they perceive. You can ask to perspective questions that will help to find exactly what we want to improve concerning the offer. This may not help to get them back, but this information will help us to save customers who may be thinking to leave.
You can also use SWOT analysis to analyze the current situation regarding pricing and level of service? Has the market become more complicated to stay competitive? Evaluate the relationship between you and your customer. This is not only an important first step to winning back your client; it’s critical in ensuring that more customers also do not depart.
3- Adjust your offer.
Your research about lost customers may not collect all the information you need to create new profitable offer. Use your existing offer and collect information about other offers and price combination. You can also make a customer survey called conjoint analysis to evaluate real choices people make to select a potential product.
4- Take responsibility and apologize
If you’ve made a mistake and lost your customers, take the step and ask them what they would need to have to make them stay, even if they didn’t want to stay anymore that means that you start to solve what you did wrong. However, if they have a good last experience with you this will drive them to promote you to their friends and families that may be will find the good fit for your business.
5- Ask for permission to send them industry information.
Generate a marketing list that you will send to your special prospects and past customers. This list should be used to send information and education on industry topics that they are interested in. there is a service called “Cyrano System” helps to frame your customer’s profile and their interests.
After this process you can analyze all the sales that you’ve won and what about the customers that used to choose you over and over again and prefer you over other alternatives, then track why your lost customers have left.
Finally, don’t forget to match those lists against the competitive strengths of your organization. Don’t just take customers for the sake of having more customers. Focus on delivering your brand promise and value to your customer experience. Only make adjustments that will further those two elements and make a positive impact on your bottom line.