What is a win-back campaign?
The term win-back campaign typically refers to email campaigns targeting at-risk customers, or customers who have already churned. Hence, you are ‘wining them back’ as customers. Voice of Customer (VOC) data is one of the best ways to identify customers for such a campaign. The beauty of using your VOC data to identify these customers is that you’ll already know why they left; thus, allowing you to produce an extremely targeted campaign.
Survey your customers
Knowing your customers are dissatisfied is useful, but how cool would it be if you could mention the core of their dissatisfaction in the campaign? The key to identifying these customers starts with asking the right driver questions in your surveys. If you don’t ask questions that will allow you to clearly categorise the drivers of dissatisfaction, then you won’t have an effective campaign. We have a saying in research, “What you botch in design, you can’t fix in analysis”.
Many businesses use churn surveys. Let’s say I run an online cycling magazine, when people cancel their subscription, I ask in the same form: What is the main reason for cancelling your subscription with us today?
A. I couldn’t find time to read it
B. Content isn’t interesting to me anymore
C. Too expensive
I now have three segments of customers to win back. I can create a campaign offering a discount to those who cancelled because it was too expensive. For those who didn’t find time to read it, I can tell them about our RSS feed ect... Admittedly this example isn’t the best but I think it gets the idea across.
What if your business model doesn’t allow for such surveys? (ie retail)
This where it gets a bit more convoluted, but there are a few ways of getting the right data. One of my favourite prompts for win-back purposes is: “Please rank, in order of priority, the areas you’d like us to improve most.“ This will easily help you understand where detractor’s frustrations are. The key is asking a question that will allow you to clearly communicate the solution to the customer upon resolution.
Let’s say that I’ve successfully sold my cycling magazine for billions of dollars and now own a big box retail store. I could send a general Net Promoter Score (NPS) or satisfaction survey to all my customers. Part of the survey may ask the detractors: Please rank in order of priority the areas you’d like us to improve most:
A. Better products
B. Store cleanliness
C. Lower prices
Now I create a campaign touting our new sexy dining room set to those who said they want better products. For those who complain about store cleanliness, I create a campaign talking about the measures we’ve taken to improve that. And I send a coupon for those cheapskates.
Again, these examples aren’t the most prolific, but I think they illustrate the idea. Using VOC data to specifically target and segment your customers, allows you to customise your win-back strategy to their specific reasons for churning, and thus increasing the efficacy of the campaign.
To learn more about how Voice of Customer can help you win-back customers, get in touch today!