Did you know that loyal clients typically make up 20 percent of a company’s overall client base but account for 80 percent of all revenue?* Or that it costs six to seven times more to acquire a new client than to retain an existing one?**
Obviously improving brand loyalty and client retention is probably the smartest investment a company can make. But what about those clients who have gone MIA? What should you do to win back clients?
You need what is known as a win-back campaign – but with a personal touch. Here are some ideas on how to win back clients:
Seriously! Pick up the phone – how often do we do that anymore? Make a list of the clients you haven’t worked with recently (maybe in the past 12 months) that you really enjoyed working with, and that you were on great terms with. No need to try and re-engage jerks.
Don’t make it into a sales call, though. Just call to say hi and find out what they’re up to. As you’re talking, think of ways to help them. Maybe you can make an introduction to a great vendor, investor, or potential client.
Your thoughtfulness could certainly lead to new projects with them, and all it would take is a five- or 10-minute investment of your time. It’s worth a try!
Hand write a note
Just like picking up the phone to call someone, how often do we hand write anything? A handwritten note that arrives in the mail is sure to stand out. Tell your clients you miss them, remind them of the benefits of working with you, and consider enclosing a $10 gift card to Starbucks or Target.
Email all lapsed clients with a special offer
For B2B companies, special offers can come in many forms. You could offer:
- A discount on a new service (you could even cross-sell or up-sell)
- A free introductory consultation for a new or popular service
- A free sample of a new product you launched in the past year
- One free month if they sign up for six months
- One free hour of work if they sign up for 10 hours
Share incredibly valuable resources
You could send all of your lapsed clients your favorite business-related book of the year (or ever), your own personal list of top vendors or business apps, or tips on how they can update or improve the product you delivered to ensure it’s still functioning properly.
Have you successfully brought clients back into the fold? What other tactics have you used?
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