Often overlooked and discounted, winning back lost customers is potentially far cheaper and more profitable than acquisition of cold prospects.

A well structured winback approach falls in to three areas:

1) Save - The last ditch attempt to keep a customer who has already psychologically moved on. Winning them back once they have gone becomes harder and more expensive, so investing in a save initiative can be a valuable investment.

2) Lapsed Customer Understanding - At an individual level, you need to track and record information that will help you prioritise customers for winback activity. This encompasses understanding the potential value you lost when they left (were they profitable or likely to become profitable customers?), and understanding your potential for winning them back in the future. This forms the basis of your decisions around investment, timing and message for winback communications.

3) Communication - Establishing a segmented and well structured communications approach to get profitable customers back into the brand fold.

At Twenty™ we have experience with establishing and executing winback programmes for airlines, automotive, retail, general insurance, banking, FMCG and Entertainment sectors.