Download Customer Winback: How to Recapture Lost Customers--And Keep by Jill Griffin PDF

By Jill Griffin

So much corporations examine the misplaced consumer a misplaced reason. yet during this flooring breaking ebook, Jill Griffin and Michael Lowenstein offer you step by step recommendations for profitable again misplaced shoppers, saving shoppers near to defection, and making your company defection evidence. no matter if your corporation is small or huge, product- or service-based, retail or wholesale, this ebook bargains confirmed suggestions for spotting which misplaced clients have the top win-back price and imposing a sure-fire plan to get better them. It contains the recommendations of 1000s of cutting edge businesses who're already operating to recapture misplaced buyers and continue them unswerving. In state-of-the-art hyper-competitive market, no buyer retention application will be solely foolproof, yet with this advisor promises brand new most sensible equipment for successful again these shoppers you just cannot have the funds for to allow pass.

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So how can you ensure your profitable customers will remain loyal against ever-increasing competition and the threat of defection? Without a doubt, your first defense is strong acquisition and retention programs. There is absolutely no substitute for attracting high-potential customers and retaining them. (Our previous three books on loyalty strategies are proof of our devotion to these initiatives. ) But the truth is no acquisition or retention program offers 100 percent protection. To maximize customer loyalty and profits, you need a fully equipped marketing arsenal, complete with acquisition, retention, and win-back programs.

For example, think of a college that retains 80 percent of the students in each class from one year to the next. This retention rate sounds pretty healthy Why Customer Win-Back Is Critical to Your Success 9 until you consider that if the college starts with 1,000 freshmen, 80 percent retention means a sophomore class of 800, a junior class of 640, and a senior class of just 512. Only when you monitor the fallout or churn among an original group of recruits over time and compare the end result with the starting numbers does the real defection picture emerge.

Sheridan adds that the company soon implemented a handset upgrade policy for current customers. That change alone saved the company a good deal of time and money in sales commissions and paperwork. Longer term, some real changes were required in database management. In South Africa, cell phone bills are generally paid by direct debit of checking accounts, so customers were matched by bank account number rather than name and address. This meant that MTN was not able to relate a canceled account to an actual person’s name, but only to their bank account number.

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