By Jill Griffin
So much corporations ponder the misplaced purchaser a misplaced reason. yet during this flooring breaking booklet, Jill Griffin and Michael Lowenstein offer you step by step suggestions for profitable again misplaced buyers, saving shoppers close to defection, and making your company defection facts. no matter if your online business is small or huge, product- or service-based, retail or wholesale, this e-book deals confirmed techniques for spotting which misplaced clients have the top win-back worth and imposing a sure-fire plan to get well them. It contains the thoughts of countless numbers of cutting edge businesses who're already operating to recapture misplaced consumers and preserve them dependable. In modern hyper-competitive market, no client retention application may be totally foolproof, yet with this advisor can provide modern day most sensible tools for successful again these shoppers you just cannot have the funds for to permit cross.
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Extra info for Customer Winback: How to Recapture Lost Customers--And Keep Them Loyal
Could it be that a lot of the churn was from existing customers canceling and then signing up again as new customers so they could get the upgraded handsets? MTN pulled the names of disconnects over the last four years (the life of its network). The data showed that only about 35 percent of the customers who disconnected had left the network. About half of these had gone to competitors to get a different pricing plan or better network coverage, and the other half, for the most part, could no longer afford or no longer needed a cell phone.
MTN did not have a handset upgrade policy so the only way existing customers could get a new handset was to cancel their present contract and give up their phone number, sign a new contract, and be assigned a new phone number. Could it be that a lot of the churn was from existing customers canceling and then signing up again as new customers so they could get the upgraded handsets? MTN pulled the names of disconnects over the last four years (the life of its network). The data showed that only about 35 percent of the customers who disconnected had left the network.
2. In any market space, there is a limited number of best customers, so you need to keep yours close. Win-back is one more tool to do this. In All Customers Are Not Created Equal, Garth Hallberg points out that “for most categories [of business], one-third of the buyers account for at least two-thirds of the volume. This ‘high-profit segment’ generally delivers six to ten times as much profit as the lowprofit segment. ”15 Bottom line, this small segment of profit-producing consumers deserves a high priority in your marketing plan.
Customer Winback: How to Recapture Lost Customers--And Keep Them Loyal by Jill Griffin