Get Reacquainted To Stop Customer Attrition

One of the simplest ways to stop customer attrition is to forget about chasing new customers for a moment. customer retention

Instead, focus on another group.

The ones that have bought from you in the past. But have not bought from you in a while.

It is easy to forget them and go find new customers, however why not see if there is an opportunity to be reacquainted.

Getting reacquainted is a way to using simplicity to grow your business.

Before you jump in to win customers back, it is worthwhile to do some analysis to get the most out of this approach.

What was their buying pattern?

This means looking at all the information you have on these customers such as their past purchases, any feedback they may have given after their purchase, prices they paid etc.

With the information depending on the number of customers is to see if there are any patterns. For example you may find that they were buying a product or service infrequently or they only bought when your prices were low.

How valuable were they?

Not all customers are created equally and it is well worth taking time to see how valuable they were to your business. This exercise will allow you to refine whom you are going to get back in touch with. It simplifies your marketing efforts, saving your money and time.

Why they stopped buying

If you know why they stopped buying then you are in a perfect position to develop marketing strategies and selecting the tactics that will win them back.

When you do the analysis often the reasons become clear. For example you may find that some dropped off when a new competitor entered the market with a product or service that meets an untapped need that your offerings don’t.

Once you know the reasons it has an added benefit that can lead you to put in place processes to ensure your current customers keeping buying from you. As well you can use the same process for any new customers.

In this hectic world it is easy to keep working in your business, however taking time to work on it can help you get business growth faster. Stopping customer attrition is one simple way and it doesn’t take much effort.

Over to you, what do you do to see how you can get back lapsed customers?

Do you want to increase customer retention? If you do I can help. To see how Click Here

photo credit: ::: M @ X ::: via photopin cc

28 Responses to Get Reacquainted To Stop Customer Attrition

  1. Anne says:

    Hello Susan,

    Thank you very much for sharing this great post. Yes, I totally agree with you. One of the simplest ways to stop customer attrition is to forget about chasing new customers but instead focus on other group and find new customers. It may be hard, but then we must try.

    Anyways, feel free also to visit my site :) Thank you!

    Regards,
    Anne

  2. 3. Which of the following statements represents an organizational buying decision?

  3. 4. Develop an electronic mailing list and send old-fashioned letters. Most businesses have harnessed the power of e-newsletters — and you definitely should be sending out one, too. It’s very cost-effective. But because e-mail marketing is now nearly ubiquitous, you can quickly stand out by occasionally sending personal, surface mail letters to customers and prospects. Just make sure the letter delivers something customers want to read, whether an analysis of recent events in your field, premium offers or a sweetener personalized for the recipient (a discount on his next purchase of whatever he last purchased, for instance). “This mailing has to have value to those that read it, so it reflects the value of what you offer,” says Leslie Ungar, an executive coach in Akron, Ohio. “Remember, the best way to sell is to tell.” The process is simplified by creating a letter template and envelope or customer label mailing list in Microsoft Office Word in Office 2010 , which you can print out. The mailing list is easily created in Excel and then imported into Word.

  4. Troy Gray says:

    Trajectory’s win-loss analysis program provides intelligence on the buying decisions of our lost prospects and customers beyond what our sales team can gather. It’s creating new opportunities for us to align our offerings, messaging, and sales approach with market expectations and unaddressed market needs.

  5. Use of Information Technology. With the advancement and increased affordability in information technology, more companies are able to collect available data on customer purchase behavior more efficiently. For example, technologies ranging from checkout scanning to Internet cookies are commonly used to track customers’ buying behaviors. Companies that employ such technology will be more adept at acquiring new customers, retaining existing customers, and cross selling than those who do not.

  6. Geek Girl says:

    Too many people forget to look at why people bought from them to begin with. Go back to what works and then build on that. :)

  7. Becc says:

    I think Catarina summed it up perfectly for me. I would just be rehashing her words.
    Becc recently posted..What is in store at 4?My Profile

  8. Wow! Susan, your advice to determine how valuable our customers are is excellent! There definitely are customers/clients that should be “fired”.

    Years ago, I was responsible for the department that did all of the data entry for a large non-profit. One of their main fundraising efforts involved running employee campaigns. Each employee was given a form on which they could fill out their personal information and they could designate 3 charities where their money would go.

    You would not believe the number of people who would donate $1 and want it split between 3 charities. Not only would someone have to key all of that information, we would also print out (and mail) a thank you to the individual.

    We did that for years in part due to the decision made by the board. It was insane. Eventually, we were able to document what these “customers” were costing us and we implemented changes but it was a long road getting there.
    Sherryl Perry recently posted..Do NOT Delete Your Google FeedBurner RSS Feed Migrate ItMy Profile

    • Thanks Sherryl. I could only imagine the additional costs your company were incurring. What I have found using the valuable customer exercise is it takes out the subjectivity which makes it easier to make the right business decisions. Did you find that when you documented what those customers were costing the business?

      • We were eventually able to build a case but it took months/a year and a cross-functional team to do it. Our biggest obstacle was the “donor services” department. They advocated that we should thank everyone and respect their wishes.

        This non-profit operated with funding from a trust. So, 100% of the donations were forwarded to agencies in need. (That used to be an argument too.) I got a lot of experience leading cross functional teams out of it.
        Sherryl Perry recently posted..How Do You Avoid Keyword Stuffing on Your Website Blog?My Profile

        • Thanks for sharing this Sherryl and isn’t always the way that a department or some people will put up obstacles, but as you said you got there in the end and you can great experience.

  9. Arleen says:

    Susan, You are so right about connecting with past clients. I have hired someone to do just that. I am trying to get it broken down my precious clients have purchased. Example if it is calendars, we contact the customer in July to tell them about our calendar sells. I think it helps to break down and categorize what the buying pattern has been. If they are into earth friendly products, then we try to contact them before Earth Day.
    Arleen recently posted..How do you turn Insomnia into Branding?My Profile

    • Hi Arleen,

      I agree with you about breaking it down as it makes getting in contact simpler and specific. Sounds like you have a good process going.

  10. Susan — it’s so true. You got me at a time when I’m about to try to reconnect with a client I had at my former agency. Don’t ask me why I haven’t done it before. Thanks for the added nudge.
    Jeannette Paladino recently posted..The 12 Elements of Employee EngagementMy Profile

  11. Such great advise. As I was reading your article I started to laugh, not at your advise but a memory of a conversation with a customer. This customer was angry about losing repeat customers because he stopped sending coupons. When I pointed this out out he was not happy because he didm’t like coupons. He couldn’t have it both ways. He finally resumed his coupons and did his lost customers teturned. The funny part was there was very little difference in the price of the service. These customers just liked coupons… LOL.

  12. Catarina says:

    Great advice Susan that I thoroughly agree with. Analyzing why they stopped bying your services and come up with a strategy that works enables you to get some of them back.

    Why do we often forget the most logical thing to do?:-)
    Catarina recently posted..Are you tweeting your investors?My Profile

  13. Evan says:

    It is like a lottery with a million reward! You never know why they stopped buying but if you somehow find out it, you’ll win this lottery million))
    Evan recently posted..5 Free Cafe&Restaurant Joomla ThemesMy Profile

    • Hi Evan,

      Great way to explain the benefit as it is like a million dollar reward. You can find out why they stopped buying in many case and sometimes it can be a case of just staying close to customers.