Whoever came up with that familiar saying what’s old is new again might have been talking about customer win-back campaigns – or not. Either way, when it comes to sales, a win-back campaign should be a part of your sales lead generation program.
According to research by Bain & Company, increasing customer retention rates by 5% increases profits by 25% to 95%. With numbers like these, win-back and growth are just as important as generating new sales leads.
As the lead generation company focused on helping our clients sell more, customer win-back and retention have long been a part of 360 Leads’ services. Helping clients better understand churn and working with them on how to materially reduce it, grows their business and advances important customer relationships.
Identify lapsed customers
Review your customer database. These are client relationships that can be revived with some analysis and the right strategy. As previous customers, they are familiar with your company and your products/services already making them good prospects compared to brand new sales leads who may not be as acquainted.
Determine the cause
Why did this client stop doing business with you? Get the conversation going with your lapsed customers on any issues you can address and how you can resolve any concerns to continue to help their business. When rebuilding relationships with prequalified leads, ensure they’re aware of any new products, services or opportunities that you can explore together. A lead generation company can help execute this kind of demand generation campaign and identify opportunities for upsell campaigns with current customers too.
How do we do it?
A 360 Leads win-back campaign covers full planning and execution, from offer development to creative production and sales lead generation. We help you analyze your existing data to determine win-back and growth strategies and ensure your sales force is aligned with campaigns.
Don’t write off old business. Maintaining client relationships and capitalizing on pre-qualified leads is a proven way to not only increase profits, but add value and recognition to your brand.
If you’re ready to up your profits contact us to learn more about how we can help you expand your customer relationships or win-back lost accounts.