Marketing Minute: Let a WinBack Program Bring Back Your Customers
Did you know that the chances of converting a lost customer are usually much better than your chances of converting a new one? According to Marketing Metrics, the probability of selling to a new prospect is 5-20 percent while the probability of selling to an existing customer is 60-70 percent. And according to the White House Of Consumer Affairs, it is six to seven times more expensive to acquire a new customer than it is to keep a current one.
Sometimes, for any number of reasons, a customer stops being active and may even go elsewhere. That’s why a WinBack Program is a critical tool to ongoing success. Through a series of strategically positioned campaigns that include letters, postcards and eblasts, you can get in front of prior customers, get their attention and strategically pique their interest.
The OSG Creative Studio has a team of marketing experts with extensive experience in implementing successful WinBack Programs. Speak with your Account Manager about how to launch one. It’s never too late for customers to come back.