Ok, so your customers are as lost as Tom Hanks on that island with Wilson. Unfortunately, unlike Tom, your customers aren’t building a raft and floating back into your revenue stream – its up to you to reconnect and win them back. But how are you going to do that?
Losing a customer can happen for a variety of reasons. Whether it was a price increase or a negative experience with your brand, that customer made the executive decision to cut ties, but that does not mean your customer is lost for good. As many would say, the first step in solving a problem is admitting you have one. Culling your customer list to determine which customers you have lost is the first step in winning them back. Identify those customers and – even more importantly – identify why you lost them.
A holistic understanding of the customer and what made them leave in the first place will help you win them back now. A customer does not want to reconnect with a brand that doesn’t seem to grasp their issues or ignored pain points. Recognizing the issues the customer had with your brand allows you to strategically communicate and highlight the benefits of your products and services. Following suit with the previous steps in the customer journey, a brand who understands the customer and takes the time to truly know the individual is a brand that will win them over – or win them again in this case.
Reconnecting with these customers requires your brand to open the channels of communication that your customer closed. While you should align your message across all touchpoints, engaging the customer through their preferred channel of communication increases the chances of reconnecting. OSG Email Marketing offers the ability to reach out to your lost customers and digitally open the door. Utilizing data-driven segmentation, OSG Email Marketing allows you to create targeted email campaigns with personalized, expertly crafted messages designed to win back a lost customer.
Once you have started the conversation it is up to you to demonstrate why the customer should come back to your brand and rebuild the customer relationship. Have you fixed a broken system? Reduced prices? Introduced new products that better suit your customer needs? Whatever the case, the door is open, and now is the time to keep the conversation going.
Acquiring a new prospect is no easy task, making this stage one of the trickiest (and most pivotal) in the customer journey. Once you acquire–and then, hopefully, convert–the customer, they become familiar with your brand and products, gaining trust in you as the relationship progresses. But at this stage, in the customer’s mind, you’re on the same playing field as all of your competitors. And you can’t beat your competitor if you’re sitting on the sidelines.
Once a customer is aware of their pain points, they start doing their research. The process of narrowing down choices can be lengthy depending on the product being considered and the requirements of the customer. Although not every customer will have a formalized process for selecting a brand, at some level each one compares and contrasts options before selecting the right brand for them.
While it may seem like this phase solely relies on the customer and their ability to research, it is up to you to get your product or service in front of the customer. Introducing yourself and beginning some form of customer engagement increases your chances of becoming that customer’s brand of choice. Using tools such as online display ad and digital media buying allows you to get your products in front of the right customers, starting the conversation.
Unfortunately, you aren’t the only brand trying to get the customer to notice your products and services. It is in this stage that brands need to differentiate in order to extricate themselves from the hordes of competitors vying to gain your customer’s attention. OSG’s Integrated Solutions work with your brand to heighten the customer experience and make your product or service stand out from the crowd. Whether it’s in-app payments or an email marketing campaign, we work around your specific needs to create strategic, targeted customer communications designed to help you leverage the engagement and customer experience at each touchpoint.
Ready to expand your customer base and acquire new prospects? Let us help you get there.
It seems like millennials have been analyzed and reported on more than any other generation. From their purchasing habits to their motivations, we simply can’t say enough. The perennial question behind this generational analysis seems to be: How can we capture real and significant market share of this generation? We’ve put together a list to help you win over this elusive generation and increase your millennial customer base.
- Make it convenient
Millennials are all about convenience. Instead of waiting for a taxi, they download a rideshare app; instead of going out and renting a DVD, they stream their favorite shows and movies. For brands, this translates to offering services that make it easier and more convenient to do business with you – or, more simply put, offering services that allow millennials to conduct their business without physically going to your business. Whether it is a mobile app to check billing history or payment capabilities on your website, offering a more convenient solution will win the hearts of millennials everywhere.
- Relate it back
Understanding millennials and their motivations is the key to gaining their trust and their business. Millennials in today’s market look to connect with a brand based on their values and beliefs. While in the past brands have relied heavily on marketing their latest products or services to win customers, it is now up to companies to showcase their brand holistically and connect personally with Millennial consumers. According to Forbes: “We found that 60% of millennials tend to gravitate toward purchases that are an expression of their personality — the brand must speak to them at this level and make them feel good.”
- Keep the communication open
You can’t win over a customer and build a lasting relationship if you aren’t communicating with that customer – and choosing the right channel of communication has a lot to do with it. While you may be used to sending out direct mailers, many of your millennial customers are communicating digitally, via email, social media and mobile apps. Including these channels in your omnichannel communication strategy ensures your message is always reaching your customer.
Like generations before them, millennials’ needs and expectations when interacting with brands are vast and varied. Understanding exactly how to target this generation is the key to increasing your millennial customer base.
Not sure how to initiate a campaign targeting millennials? Let our Account Executives get you started.
Working with clients on their critical communication needs means we get insight into how different types of companies transmit information and which methods prove most effective for them. Here are some general observations that apply to anyone trying to create a better customer experience.
- Pretend you’re the customer.
Obvious, right? But really consider it from their end. The thing about billing is that we all deal with it, so what are the ways to make the experience less annoying and more fluid? What are some offers or messaging that would have an impact and not just take up space?
A point that comes up again and again is the issue of clarity. We’ve said it before and we’ll say it again: poorly designed bills and invoices will slow down your revenue stream. If they can’t understand the bill, they certainly won’t pay it on time. Once we achieve clarity, we can work on messaging that reinforces your brand and drives new business.
- Don’t be so quick to declare that paper is dead.
The funeral for paper has been scheduled and cancelled dozens of times. It’s true that as many companies have made the promise to be eco-friendlier and offer payment options more in line with the modern world, the need for electronic billing services has become more prominent. But that need isn’t universal. Many people still rely on paper when it comes to bills, whether for security reasons or plain ol’ habit (yes, even millennials). Listening to that need and being flexible is critical.
- Think about the industry.
One thing we pride ourselves on is not being a one-size-fits-all model when it comes to communication services, particularly since we work with clients across a broad spectrum of industries. Thinking about the needs of specific industries, and how their customers interact with them, is central to our work.
Here at OSG, we’ve just completed our annual customer survey. Though we love hearing the praise (shout out to Account Management for scoring more than nine out of 10), the constructive feedback is what keeps the trains moving. Maybe there’s a way to make a process run more smoothly. Maybe a client is interested in a new service of ours. Maybe there’s one simple change that would make the company’s overall experience with us that much better. Because that’s what we’re delivering—an experience, not a product.
Every single year, we read each comment, cull the best suggestions, and incorporate changes into our business where it makes sense. It’s crucial to live up to the kind of partnership we promise. The questions vary in scope and topic (customer service, products, management), but they boil down to this essential query: How are we doing?
We value this input so much, in fact, that we offer customer survey inserts as an option for our clients to send to their customers. It makes sense to use an invoice package as an opportunity to ask the questions that often go unasked amid the day-to-day tasks that keep us all bogged down.
Not everyone is going to speak up without prompting. Open a new line of communication. You might find insight that improves specific relationships and moves you closer to the bigger picture goals of your company.
Do you have a company newsletter? It’s a great way to stay in touch with your customers and build brand loyalty.
Think in this day of Tweets and Posts that newsletters are no longer relevant? In a recent report issued by Quartz Insights, 60 percent of over 1,300 global executives, indicated that they read an email newsletter as one of their daily news sources. They also indicated that they get their news twice as often from email than from video.
The study went on to report that if they read work-related content that they felt was valuable, 88 percent said they would share it via email.
So, what are you waiting for? Not only is a company newsletter a great way to stay in touch with your customers on a regular basis, research shows that the content will be read and, if deemed valuable, shared.
What should the goals of your newsletter be?
- Educate Your Target Audience. As a valuable source of information for your customers, your company newsletter can update them on the latest happenings within your company, answer frequently asked questions, include store hours and contact information or further explain a service plan.
- Establish Recognition. Establishing your brand is powerful. The regular delivery of your newsletter will help your customers develop a strong sense of your brand. Your newsletter is a simple and effective marketing tool that is perfect for spreading information directly to your audience. Use it to announce a new product, promotional discounts or just send season’s greetings.
- Increase Web Traffic. Your newsletter is the perfect vehicle to drive traffic to your website. With the proper use of content and links within your newsletter, customers can quickly and easily access your website which helps further establish your brand. A company newsletter is also a subtle reminder to those customers who may have lost touch with your business.
- Communicate More Effectively. Developing reliable and timely communication with your customers is important for your business to thrive. Although you have plenty of marketing tools at your disposal, only a newsletter gives you the adequate space you need to speak directly to all of your customers. This compelling form of communication will become something your customers will look forward to receiving.
Does your company produce a newsletter? Is it print, electronic or both?
Sometimes, for any number of reasons, a customer stops being active and may even go elsewhere. Here’s some encouraging news, the odds of bringing that customer back are quite good. In fact, 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.
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.
Not sure how to begin? 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.