Networking Strategies To Win Back Lost Customers
You may lose a customer for any number of reasons. They may no longer need your service, they may have decided to go with a competitor, or they did not get the ROI they expected from working with you. While customer churn happens, the first step is to figure out why you lost the customer. Then, says, Petra Odak, chief marketing officer at Better Proposals, you can deploy strategies to win them back.
In this issue of Promotional Consultant Today, we share Odak’s top networking strategies to bring lost customers back onto your books.
Keep in touch. When a project naturally comes to a close and you and your client are both happy, maintain that relationship. Odak says you can do this by regularly offering value. Try reaching out with a case study or checking in every quarter with a useful article. You can also look for ways to make helpful introductions, Odak says.
Build relationships with other professionals. If you see that your customers’ needs have changed, think about whether they no longer need what you offer or if they need your service in addition to others. According to Odak, you can help win back lost customers if you partner with the agencies or organizations that help solve your customers’ needs. So, for example, if a client comes to you for promotional items but wants to branch out in their marketing with podcasts, look for ways to partner with a relevant organization.
Compete on personalization. If you can’t compete on price, Odak recommends competing on personalization. Since you have already worked with the client, you know them and probably have a solid relationship with them. Remember that a big agency can’t compete with the relationship-building you have already invested, says Odak. That means you can present a personalized offer based on what you know about your client’s needs.
Leverage your network. Sometimes, customers leave because they no longer see the value in your service. If you have a healthy collection of case studies, you may be able to win these lost customers back. When they see the ROI you provide to other businesses, they may be tempted to work with you again.
Depending on why you lost a client, you can try the approaches above to win them back. It’s never easy when a client decides to part ways with you, but this doesn’t mean you should let them go without understanding why they left and trying to win them back.
Use your networking skills to stay in touch with former clients. Whether you worked with a lost client for months or years, you have a leg up on the competition because you know your clients well. Leverage what you know to add new value and you will find it easier to win back new clients and prevent them from leaving in the first place.
Compiled by Audrey Sellers
Source: Petra Odak is chief marketing officer at Better Proposals.