A great way to increase your sales is to rekindle the love between your business and lapsed customers.
A study by Marketing Metrics has found firms have a significantly better chance of winning business from lost customers than from new leads. The research found the average business has a 20 to 40 percent probability of successfully selling to lost customers, and only a 5 to 20 percent probability of making a successful sale to brand new prospects. So it is worth putting in the work to win them over again. It’s all about finding the best way to re-start your relationship. Here are our fool proof ways to win back your old customers.
Choose the right time
One size does not fit all. Setting a CRM target of contacting all your old customers every three months will leave some feeling harassed whilst you miss opportunities with others. Lapsed customers’ potential will differ according to the kind of product or service they have bought from you. For instance, someone who bought a website may not think about creating a new one for a couple of years. Someone who buys printer ink may need to order a new supply every couple of months. Factor in this information before you make contact.
Pick up the phone
A friendly conversation with an old customer is often the best place to start when rekindling a relationship. This way you get immediate feedback about any problems they may have encountered with your product or service. It also gives you the chance to spot new opportunities and to find out if they are working with your competitors.
If you have 200 customers to get back to, a telemarketing company with professionals trained in speaking on the phone can help with finding out about their current situation using information about what and when they last purchased from you. With this key knowledge, they will feel valued and the person having the conversation seem part of your company. This can be done in volume by an outside agency who will then be able to provide your firm with some hot new leads from these calls.
Address customer service problems
They bought from you once and, for whatever reason, they stopped. But with the right approach they could become valuable customers once more. If former customers raise issues about product problems or shoddy customer service with you when you get back in touch – now is the time to deal with the problem. Empathise and act quickly to rectify the mistake and you will soon win them over again.
A customer satisfaction survey can really help to address falling sales when you have been unable to pinpoint the cause. It’s good to have a third party to do the calls for you because it helps people to be honest with the caller and creates a perception of being valued. The answers to your questions will quickly show up any problem areas in your business that are driving away customers.
If you have a handful of high-value customers you want to win back then go the extra mile to see what they care about. Follow them on social media and see what issues they are talking about. Could you join in the conversation too or would this be useful as an ice-breaker at the next networking event you both attend?
A hand-written card also feels thoughtful and sends the message that you value this customer.
Contact Spirus on 01638 741830 or email firstname.lastname@example.org if you would like us to create a targeted campaign to help you win back your former customers.