Most businesses I speak to are unaware that “inactive” customers can be a gold mine of hidden profits within their business. Or all too often they have taken on the false belief that these “inactive or lost customers” are not worth the effort. SILLY!
REACTIVATING PAST CLIENTS/CUSTOMERS that are no longer doing business with you.
Have you ever wondered why these clients/customers are no longer doing business with you? In a surprising survey on this topic, it was found that customers left their current supplier because of a PERCEIVED attitude of indifference. In fact, this ONE REASON accounted for 68% of inactive customers! Notice the key word, PERCEIVED. Said another way, it does not matter what you think and it does not matter if you are actually providing good service. What matters is what your customers PERCEIVE.
That means, by simply showing you care and making sure your customers know that, you can win back customers and a constant stream of new revenue as well. And the great part is this marketing strategy costs you almost nothing!
Here Are 3 Steps To Reactivating Lost Customers:
1. Make a list past customers who haven’t bought from you in the last year.
2. Create a few simple, “We want you back” communications. The letter or email:
- Explains that you are puzzled why they haven’t done business with you AND acknowledges that you have not paid enough attention to them.
- Explains how you value them and their past business, and would like to serve them again.
- Provides them with an incentive to do business with you again.
3. Develop a Nurture Campaign – winning back customers takes time. Therefore, begin adding value and staying in touch. Remember, you need to “catch them when there is a need” for your product and service and your first few attempts may not be the right timing.
Get started today and watch the profits roll in from this simple, proven highly effective strategy. There is “gold” in your inactive customer list.
