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7 Steps to Win Back Customers and Increase Your Customer Retention Rate

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7 Step Retention Rate Formula

One of the fastest ways to grow your company’s sales and profitability while cutting down your costs is to bring back past customers to buy from you again with a “Win Back” campaign.

Win Back campaigns work because they improve your customer retention rate, or the percentage of customers that come back to buy from you again. Retention is important because selling to returning customers is a faster, easier and cheaper way to grow sales and profits compared to new customer acquisition.  In addition, you don’t have any up-front advertising costs which makes Win Back campaigns nearly risk free.

Studies by the Harvard Business Review, and others. prove that returning customers spend more money, and buy more often. Because you have already exceeded their customer expectations they also report a high rate of customer satisfaction, and are more likely to try new products and refer friends and family by spreading priceless “Word of Mouth” advertising.

Unlike new customer acquisition marketing campaigns, which require expensive and risky cash outlays such as advertising or search engine optimization,  there is little to no upfront cost to reach out to past buyers.

You will also see results and sales much faster, often on the very first day of a customer retention campaign.  You could spend money for months on new customer acquisition campaigns before seeing any results. That is, if you are to see any results at all.

Finally, The Harvard Business Review study reports that an increase in customer retention of just 5% can result in an increase in company revenues of up to 95%.

Here’s an overview of a Win Back campaign you can run to increase the number of loyal customers that return to buy from you again.

7 Steps to Getting Repeat Sales Starting On Day 1

Below is out gift to you! It’s the 7 step Win Back strategy that outperforms other customer loyalty programs. It is a fast acting, fun and exciting 3 day campaign that shortens the customer journey and brings them back to purchase from you right away. We’ve been running this for over a decade and have had stellar results in all industries, both business to business and business to consumer. Follow these steps, and you’ll often see results on the very first day (our record is 6 minutes)!

Step 1: Gather All Past Customers

The first step is to gather the contact information of all your past buyers and place them on a spreadsheet. Include email addresses, mobile numbers (for SMS text messages) and even physical addresses if you want to use direct mail offers or postcards.

You likely have this information in multiple places such as your CRM, accounting software, office management software, contact manager, email inbox and even your point of sale system. Don’t worry about duplicates. They will be weeded out later

Step 2: Create An Event Or Promotion

Let’s wake up your audience by giving them an irresistbile offer. Make it big, bold and exciting. A simple 5% or 10% discount is unlikely to do the trick. This has to be something that makes them drop everything and say “I’ve got to have that!”

Tap into their emotions by giving them a glimpse of what the end result looks like.  For instance, don’t say “Free Teeth Whitening” offer. Instead say, “Make Your Smile As Big And Bright As It Was When Your Were In Your 20’s!”

The event should last a total of 3 days. Plan your the opening and ending dates of your event and schedule them on your calendar.

Step 3: Design Landing Pages

Landing pages are the specialized web pages that your customers will visit in order to claim their offers. There’s an art to creating high converting pages that get you exponenentially better results, so hiring a professional marketer vs. a website builder will pay off hansomely in the end.

The right marketer will combine compelling copywriting with proven techniques such as urgency, scarcity and social proof that will get you the best results and most sales.

 Step 4: Write Messages And Load Into Autoresponder

The next step is to write your messages. You can use email messages, SMS text messages, or a combination of both. You are likely to reach more people by sending both email and text messages.

Typically you will create five messages.  One each for days one and two, and three for the final day. You’ll likely see the most activity on the last 2 messages as you get closer to the deadline. These final messages should have strong calls to action that remind them of the upcoming deadline. Your copywriter will know how to get the most benefit from this.

If you don’t have email addresses or mobile numbers for your contacts, then you can begin your campaign by sending out direct mail offers or coupons. If you do this, it’s important that your offer sends your audience to a landing page so that you can start building your email and text messaging lists.

Step 5: Send Out Messages

You will send out your email messages over the course of three days. Schedule the first message to go out at 8AM on day one and the second to go out at 8AM on day two. If you are also using text messaging, you can send those out shortly after lunch.

On the third and final day, you will send out messages at 8AM, 1:30PM and 8PM.

It is best to use an autoresponder program that can schedule each of these messages in advance and track the activities of each contact. You will want to be able to see statistics for messages opened, links clicked, and offers claimed. The Flawless Followup program can provide you all of this information and more.

Step 6: Conversion Optimized Followup

This is where SalesCPR and Flawless Followup shines and makes you the most sales. Business owners love how we track, tag and segment each and every step of the process, you get many insights and always know exactly where each contact is located in the process. Now you can reach out to the contacts that demonstrated the most interest and help them complete the purchase!

Step 7: Repeat!

Running the Flawless Followup SalesCPR customer retention program will get you immediate sales on day one. If you want to consistently grow your customer retention rate and maximize your revenue per customer, you will want to repeat this process every 60 to 90 days.

Ask your Flawless Followup Customer Success Specialist how you can automate this process to keep your customers constantly engaged so that they never stop buying.

Would You Like Our Help?

One of the fastest and safest ways to exceed your business goals and to achieve company growth is to bring back past customers to buy from you again. Follow the proven 7 step program that we use to fill up your calendar and ring your register. If you would like to discuss how we can improve your customer loyalty, grow your sales and reduce your upfront costs, simply type “Win Back Demo Please” in the customer chat bubble on this page, or call us at 512-877-5881.

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