Five Steps to Winning Back Lost Customers by Using Targeted Content

Nothing is more discouraging than seeing customers cancel their subscriptions or stop using your service. But it is an inevitable part of doing business – some of your customers, for whatever reason, may decide to stop doing business with you.

However, an above-average turnover is an indication that your company is in trouble. High turnover or major disruptions can paralyze a company and reduce sales.

The average turn depends on your sector

Customer loyalty is worth paying attention to

Customer loyalty is essential to a growing business. Acquiring a customer can cost five times more than maintaining it.

If you want to win a new customer, you must first identify the people who fit your ideal customer demographic and then run a marketing campaign to get that person to try your service or buy your product. All of this takes time and money.

Say you’re running a pay-per-click marketing campaign. You must design the ad, define the targeting, and reserve a budget for the campaign. When someone clicks on your ad, it’s sent to a landing page, which you need to create. As soon as they are on your email list, which you have to pay for, send them links to the content of your blog, which someone must write. At the end of the process, you will be lucky if one in 100 people decides to try your service or buy your product.

Each step of the customer acquisition process is a financial investment. But you can ignore most of them for customers who have tried your product or service. If you provide a good product, they will have a certain confidence in what you are offering. As a result, it is easier to sell back to that person.

If you reduce your revenue by 5%, you can increase your profits by 25% to 95%, according to Small Business Trends. If you want to increase your profits, it’s a cinch to focus on customer retention.

The following strategies will help you use targeted content to win back lost customers.

  1. Let the data guide you

The first commandment to win back lost customers is to get to know them. Get a clear idea of   who your customers are and what their preferences are.

The information you collect about your customers will help you understand which customers are worth pursuing and which strategies are producing the best results.

Start to segment your customers into groups. A proven method is a recent frequency and monetary model (RFM)

  1. Find out why the customer left

Customers are leaving services for a variety of reasons, including poor customer service, pricing issues, and better alternatives offered by their competitors.

One of the easiest ways to collect customer feedback is to send customers an exit survey. You can also combine surveys with other customer feedback strategies. For example, exit interviews are likely to provide more information than a survey. Obviously, conducting interviews is more difficult and time-consuming, so you need to find the right balance for your business.

The response rate for any type of active customer feedback is likely below. Consider using an incentive to improve your response rate.

  1. Design your customer loyalty strategy

You have completed your search. You divided your customers into groups based on their consumption habits and engagement, and through this analysis, you gained valuable insights into the customer journey. Also, you have identified the problems that customers have encountered in your company.

Therefore, it is necessary to develop marketing strategies that do two things:

  1. Anticipate the customer journey so that you can offer products or services to people when they are likely to buy based on their buying habits.
  2. Develop a marketing strategy to recover lost customers based on understanding the knowledge gained about customers

If you run an SEO agency and know that 76% of your clients will increase their budget in 9 to 12 months, you can create a project proposal that meets their needs. You can also start discussing marketing goals and share projections about the impact of a larger budget on your business.

After anticipating the customer journey, you can create a strategy to win back lost customers. You may have found that a defined 12-month project was a problem for customers because they could not guarantee cash flow for such a long period of time. You can then offer a lost customer the opportunity to work at your employment agency for six months, with the option to terminate the contract without option with a 30-day notice period.

  1. Remind your lost customers what they are missing

There are simple and effective ways to use targeted content to win back customers.

It is no accident that marketers like to use Fear of Missing Out (FOMO) to drive engagement and sales. FOMO is based on the client’s desire not to miss a great opportunity.

FOMO content is often used as part of a cart set. However, it is just as effective as part of a promotion.

  1. Offer retentive incentives

One of the easiest ways to bring customers into your home is to encourage them to come back. These incentives can be discounts, updates, free promotions, gifts, or others.

Offers must be specific about what the customer can achieve and must contain many images that make the offer fascinating. They also need to want the customer and make them feel important, in addition to a clear CTA.

Use your RFM analytical data to understand which offers and incentives are best for your lost customers.

For example, in 2016, a telecommunications company tested four profit offers on 40,000 customers and some outperformed others. Harvard Business Review results:

  • Discount ($ 20 off for six months): 45% success rate and 668% ROI
  • Upgrade ($ 35 movie channel for three months free): 41% success rate and 793% ROI
  • Package ($ 20 off six months, plus $ 35 off three months free): 47% success rate and 302% ROI
  • Personalized (customers who leave because of the price get a discount and those who leave because of the service are upgraded): 45% success and 596% ROI

Automating product offerings can bring benefits; with the right quote management software, you can close transactions more easily.

No company can exist without customers. Wal-Mart and Sam founder Sam Walton said, “There is only one boss: the customer. And he can fire anyone in the president’s company simply by spending his money elsewhere. Give.”

If you are losing customers, don’t give up. A limited amount is normal for any company, and the tactics described in this article can help customers come back, even when they leave.