7 Effective Winback Campaign Strategies to Implement
14 mins readFeb 23, 2023
The global economy is more uncertain than ever before. Things are changing more fastly than businesses can hold on to. The only certain way they can stick to is to build a robust win-back campaign strategy to put their business on a stable path.
Millions, if not billions, businesses are online now facing the influx of new competition and the constant rise of customer churn—-are the significant problems businesses to be faced in 2023. Due to global inflation, users suffer from uncertain price hikes and tend to focus on the products they offer lower prices with better services. Even if businesses who have the best win-back campaign strategy to win their customers’ hearts, still struggle to convince their users that prices surge is out of control.
There can be other more pressing factors making your customers leave. Therefore knowing the reasons your customers go away is very necessary. It is something you cannot risk your entire business. Churn is expensive, and acquiring new competition in a world of fierce competition is 7X more expensive than retaining the older customer.
In these uncertain circumstances, you cannot keep shooting in the dark, getting obsessed over the competition, or putting more pressure on your product and sales teams. What else do you need other than a win-back campaign strategy?
Thanks to technology backing up, everything excellent, especially for SaaS businesses, winning back customers is helpful by using a customer retention tool and a robust win-back campaign strategy. The market is swamped with multiple tools that help point out the churn rate. But only some tools offer one-platform solutions to all your problems relating to retaining older customers and winning new customers. The hand-picked tool by enterprises and SaaS businesses is Churnfree.
Churnfree is one platform solution offering automated methods to drill down the relative data on customers’ base and behavior patterns. Therefore, SaaS businesses can powerfully control their customer base, leading to less churn rate and more revenue. Hundreds of tools can drill down information for you, but can they tell the relative information to your business? Churnfree can deduce relevant information that can help you improve user retention strategies, improve your customer base and help you make the best business decisions.
Let’s Jump into everything you need to know about all effective win-back campaign strategies you can implement to make your business successful.
What is win-back campaign strategy?
Win back campaign strategy is a sequence of all factors and reasons collected together to retain your customers and attain new ones. These factors include;
- Prices, discounts, and bonus deals
- The quality of products and services
- How quick solutions can your teams offer to your customers
- How fast can your teams work on customers feedback
- How you can offer value to your users
- How to make your users realize that your products/services are better than the competitors
- What approach and methods should you use to contact your users and keep them engaged
Unblock win-back campaign strategies for success.
Several factors can lead your customers to leave your products/services.
Here are some steps you can include in your win-back campaign strategy.
1. Identifying Inactive Customers
Identifying the reason behind losing a customer is essential, as it’s a key to many answers that can help you devise a well-built customer win-back strategy.
Here are some tips for identifying inactive customers:
- Set a timeframe: Determine how long a customer needs to be inactive before you consider them a candidate for a win-back campaign. Depending on your business and industry, this could be a few weeks or months.
- Segment your list: Segment your email list to identify inactive customers and tailor your win-back campaigns to their needs and interests.
- Analyze data: Use data analytics tools to track and analyze customer behavior and identify inactivity patterns.
2. Use a cancelation flow.
A cancelation flow is often called a customer exit or churn rate survey.
The cancelation flow includes alternative methods such as the off-boarding process, collecting user feedback, and knowing the reason for canceling subscriptions. Therefore, your attempt to win back your customer should occur within the cancelation flow. The user review can help you, and your teams determine the lack in your products and services and help you improve to save yourself from uncomfortable experiences.
You have a bit of a chance to keep your customer from going away by collecting their review and knowing the problem. Moreover, you can offer Super discount deals and incentives if the higher prices let them disappear. With the rising inflation, this step can help you reduce the churn from 10 to 30%.
3. Collect user feedback.
In any case, you cannot win back customers during cancelation; here is your chance to work on all bottle-necks and lags that led your customers away. Design your feedback process so that you can ask every possible question that helps you find the real problem behind losing customers.
Additionally, you can collect feedback from your happy or regular customers as well. Usually, a happy customer would like to put their desired effort into giving you an honest review. Nevertheless, angry customers on the brink of leaving also give you the most brutal review by stating their reasons for leaving. You can tailor your win-back campaign strategies using the information collected from feedback.
Once you are done with the information collected from feedback, you can email your users by informing them that their problems got resolved. Or you can offer them discounts or fewer prices or new features’ launch at less prices, et cetera. That’s where they would feel you value them as your customers. There is a 40 to 50% chance That they would like to switch back to your products after hearing that their problems have been resolved, feeling valued, and seeing that your products are not too pricey.
4. Crafting Compelling Winback Emails
As a business owner or marketer, one of your primary goals is to retain and keep customers returning for more. However, even the most loyal customers can become disengaged or inactive over time, leading to lost sales and revenue.
That’s where winback email campaigns come in. A winback email campaign is a series of targeted emails designed to reconnect with inactive customers and entice them to come back and make a purchase. By leveraging the power of email marketing, you can reignite interest in your brand, build stronger relationships with customers, and ultimately boost your bottom line. Here are some tips for crafting effective winback emails:
- Use attention-grabbing subject lines: Your subject line is the first thing your customer will see, so make sure it’s attention-grabbing and relevant to their interests.
- Personalize your emails: Use the customer’s name and past purchase history to create a personalized email that speaks directly to them.
- Offer incentives: Provide an incentive for the customer to return, such as a discount or free shipping. Make sure the incentive is relevant and valuable to the customer.
- Create urgency: Use language that creates a sense of urgency, such as a limited-time offer or a reminder that their account will expire soon.
- Test and optimize: Test different email templates and subject lines to see what resonates best with your audience, and optimize your campaigns based on the results.
5. Remember to address price sensitivity.
Due to global inflation, the price says hikes are getting higher than ever before. Your users may get frustrated more than often due to uncertain price hikes. Moreover price is a very sensitive issue that leaves 80% of your customers away. You should carefully address price sensitivity issues while designing a wonderful win-back campaign strategy. You can design your price strategy to make your customers feel their value and help them switch back to your products. One of the crucial factors is having complex subscription plans. You can ask your customers about their needs, and you can’t design a customized subscription plan according to their needs. This way, they feel more valued and would like to stick to your products longer.
6. Share product updates
As it’s the era of introducing new features within weeks and months. You can upsell your new features at discounted prices. Updating your products timely and sending your customers emails about the update at discounted prices would also make them valued and help them to stay with your brand. The higher price is a major factor that can lead your customers away. Still, at the same time, if you don’t update your products on time or tailor the features according to your customer’s needs, your customers would like to switch your products with your competitors.
The current world no longer supports laziness. You cant survive with outdated products/services. Your goal should include continuing product updates on an excellent win-back campaign strategy.
Send emails about updates and new features launch. You can also do the exit survey or user review sessions to know that your customers feel your products and services need to be updated from your competitors.
7. Know your competition
The current world no longer supports ignorance, especially when needing more knowledge on who your competition is. Since almost everything is online, you may face global competition against your products/ services. Hundreds of businesses might deal with the competition nationally, internationally, or globally. Therefore, build your win-back campaign strategy to address the perks and cons of the global competition and the strategize your business to combat it.
The practices to make your win-back campaign strategy the best.
Here are some tips that can customize your win-back campaign strategy according to your needs.
Customize win-back campaign strategy.
Usually, the one-size-fits-all approach only works For some businesses. For instance, the reason that led your user to go away was a lag in the services, and you might need to address all the lags instead of offering them a discount or lower price.
The personalized win-back campaign strategy delivers the right offers for the right users. Therefore your strategy needs to be personalized and Tailored to the needs of all customers. The world is growing complex; even now, you may need to personalize subscription plans for your users.
Test, test, and test…
There is always room for perfectionism. In the beginning, you can never achieve perfectionism.
Testing your win-back campaign strategy with different plans and experiments to reach the specific standard that can work relatively close to your business needs.
The test phase lets you personalize your campaign strategy. Read different case studies or business stories that helped them achieve their goals. With the experiment, you can know what might work or not; for instance, some businesses sending emails about product updates, discounts, and new feature launches might work, But for you sending 3 to 4 emails about user feat back might backfire. Therefore, test the win-back campaign strategy carefully to know what can work best for you to achieve your business goals.
To determine the success of your win-back customer campaign strategy, you need to measure key metrics such as open rates, click-through rates, and conversion rates. Here are some tips for measuring success:
- Set goals: Define clear goals for your win-back campaigns, such as a target open rate or conversion rate.
- Track metrics: Use email marketing software to track key metrics such as open, click-through, and conversion rates.
- Analyze data: Analyze the data to identify areas where your campaign can be improved, such as subject lines or email content.
- Iterate and optimize: Use the data to iterate and optimize your win-back campaigns over time.
Crafting a successful win-back customer campaign strategy takes time and effort, but the payoff can be significant. You can win back customers and build stronger relationships by identifying inactive customers, crafting compelling emails, and measuring success. Remember to iterate and optimize your campaigns over time and use data to inform your decisions. With the right strategy and approach, you can turn inactive customers into loyal advocates for your brand.
What is a win-back campaign strategy?
A win-back campaign strategy involves contacting inactive customers with targeted emails and offers to encourage them to re-engage with your brand.
How do I identify inactive customers?
You can identify inactive customers by setting a timeframe for inactivity, segmenting your email list, and analyzing data.
What makes a successful win-back email?
A successful win-back email should have an attention-grabbing subject line, personalized content, a valuable incentive, a sense of urgency, and should be optimized based on data.