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Customer Win Back Campaigns – Why and How They Make You Money

25-Jan-2017

The data that companies collect on each customer - products or packages bought, amount of usage, upgrades, downgrades, duration of account etc. – means they build up good user profiles on all of us. If someone decides to cancel a subscription and leave a company, this data on customer behaviour can make winning back customers a much easier job.

We all know that it costs a lot less to win-back and retain a customer than to acquire a new one.

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Companies that bill on a recurring basis such as broadband and digital media providers, insurance companies and utility companies are plagued by churn.

Research from Georgia State University shows that instead of spending huge amounts of money on marketing to replace lost customers, companies should look at creating smart customer win back campaigns.

The research states three reasons why winning back a customer is easier and more profitable.

 

  • First, these people have demonstrated a need for the service, which means they’re still good prospects.
  • Second, they are familiar with the company, so no need to spend money marketing to them, creating brand awareness and educating them about the offering.
  • Third, because of the user profiles companies have built, it’s possible now to tailor your new offer based on the data and analytics of the users previous behaviour. Your user profiles also tell you who your most profitable defectors were.

 

Why should you outsource your customer win back campaigns?

 

As well as the above reasons, our experience at customer win back and retention at Zevas has taught us that there are many ancillary benefits to running a good customer win back campaign.

By analyzing unhappy and lost customers we help companies detect other at-risk customers before you lose them. Being close to your customers doesn’t just mean we can identify pain points but we can also uncover growth areas. We can glean invaluable customer insight and feedback to inform any new product development conversation.

Call us at Zevas to find out how we can help you maintain and grow your market share.

 

HOW OUTSOURCING CAN GROW YOUR BUSINESS - FREE GUIDE

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See our work in action


  • Leading digital network provider

    Improved customer satisfaction ratings by 45% and reduced Year on Year customer churn by 23%

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  • Pan-European Telecommunications Company

    Sales & service support across all inbound and outbound channels for major new product introduction Over 100 agents and infrastructures with an intensive 4 week training journey Compressed timeframe from announcement to launch

    read more
  • Nationwide mobile phone services provider

    Increased sales lead generation productivity by 68% YoY

    read more
  • National electricity provider

    Targeted service levels consistently achieved 87% of the time (increased from 72% one year previously)

    read more
  • Leading national animal welfare charity

    In 2014 the number of new donors signing up following a campaign increased by an average of 56% versus similar campaigns in 2013

    read more
  • On-line Golf Holiday Company

    Improved first call resolution rates and reduced the number of internal transfers by 45%

    read more
  • Hardware and Homeware retailer

    Increased on-line conversion rates by 17%

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  • Leading regional credit union

    Advanced campaign management capabilities and outbound functionality to increase the company’s account recovery rates

    read more
  • National Insurance Group

    Reduction in costs and complexity by integrating disparate contact point solutions into one reporting system

    read more
  • Leading digital media provider

    Service successfully rolled out and ramped up within 6 weeks of recruitment process starting (5 weeks ahead of target)

    read more