Data shows that you have a 60 to 70 percent chance of successfully selling to an existing customer. Compare that to your low odds of earning the business of a prospect — between 5 and 20 percent — and it’s clear that your business will benefit from investment in your current customer base.
There are a number of tactics you can use to re-engage with, and once again delight, your existing customers. We’ve highlighted our favorite re-engagement tactics for you.
Whether you lost the account or your customer simply hasn’t made a purchase in over a year, it’s wise to lay the groundwork for knowing the reasons they left. This could mean implementing a survey when a customer cancels service to learn why or emailing your customers after a stretch of inactivity to offer a discount or gift. If there’s still no activity, you can then reach out to ask for feedback.
Note: In light of GDPR, it’s more important than ever to make sure you have your customers’ explicit permission to email them before doing so.
Asking for feedback may seem daunting. After all, no one likes negative feedback, but it’s crucial to listen to your customers. It’s the only way to earn trust and improve your business. Showing that you care about your customers is the best way to bring them back.
If email isn’t an option, consider mailing a short feedback survey or offering a feedback card at your business for your customers to fill out in person.
Put these check-ins into practice and see what feedback you receive. For example, you may be unaware that your checkout process is cumbersome or that a recent price adjustment caused many customers to leave. Closing these knowledge gaps can empower you to re-engage with your customers appropriately.
Assuming you have feedback ready to act on, you may want to consider the following techniques to earn back your past customers' business. You can use some of these techniques in tandem if applicable. Many of these suggestions tie back into trust: Fundamentally show that you care about your customers and you’ll be surprised by how they reward you with repeat business and a sales boost.
Now that you know how valuable your existing customers are, you can adjust your sales strategy to include them. Don’t forget about your past sales, as these customers have exhibited that they fit your customer profile.
Do you have any additional re-engagement tactics to share? Note them in the comments section below!