Is it worth the investment to try and win back lapsed customers? The answer is: yes.
According to Marketo, 25 to 50% of all contacts fall into the ”inactive” category (“raising their hand in the past, either through showing intent, engagement or making a prior purchase”). There’s intent of purchase. They just aren’t ready yet. So, how do you convert them to customers?
We helped one of our financial clients rev up an inactive customer base. Here’s how we did it.
We needed to boost awareness for our client. And we needed to compel their account-holders to reconsider and re-engage. In a highly competitive market environment, you must re-establish your company’s value proposition to the prospect.
There is a lot of saturation and clutter out there – you have to stand out.
1) Develop a winback strategy to re-engage inactive accounts.
To re-establish the relationship, develop a winback strategy. Let them know any updates about your company and the services you provide. Tell them what their last purchase was, remind them of the value and why they purchased from you in the first place.
2) Develop strong offers to drive conversions.
Offers can vary. Give your readers options. You can ask them if they want to change their email frequency or customize on the subject matter of your emails. Give them a freebie. Solve a problem.
For example, if a common problem is lack of free shipping – offer them free shipping (for a limited time). It depends on what you think your prospects are looking from you, and what would entice them to opt back in.
3) Don’t forget to personalize.
Whether it’s a current or past customer, personalization is the preferred approach. According to Marketo, including “miss you” in the email subject can make a difference. It’s one of the top tips for an email reactivation campaign.
Whether you’re using emails, URLs or landing pages, personalization is key. If they reactivate, don’t forget to follow up. Reminders, when used in a timely manner, can encourage a response.
The Bottom Line
It’s more cost-effective to re-engage dormant leads than it is to acquire new ones. It’s an untapped revenue. Remember: you need the right messaging, offer and personalization – and you’ll win them back.
Kirkwood Direct is largest service provider that offers comprehensive and effective end-to-end direct marketing communications solutions to their clients. It offers various services like Data Management/ Data Acquisition, Commercial Printing, Mailing Services, E-marketing and many more. Call (978) 642-0300 or visit site.