There's Gold Buried
in Your past
Customer Winback Scales Revenue Faster and Cheaper than New Customer Acquisition
winback Scales Revenue
at a Very Low Cost
Customer winback programs generate an average of $485K for SMBs. Larger organizations generate millions.
Why does winback generate so much revenue?
1) Lots of customers will come back. On average, 1 in 4 past customers return.
2) And when they return, they generate so much revenue that their lifetime value more than doubles.
That's because they buy your core product, plus they buy upsells and cross-sells at a much higher rate than new customers.
The average cost of a customer winback campaign is under $5K for an SMB. The cost is also very low for larger organizations.
It's low because the high cost of acquiring the customer has already been paid.
You don't need to pay for ads or buy lead lists. Your leads are free, they're sitting in your CRM.
And you don't need to pay BDRs or AEs to qualify those leads, build relationships and educate them on your product.
All that work has been done and paid for.
Sources: Customer Winback Benchmark Study - ClientSuccess.com
Selling is Faster and Easier
Sales cycles are 70% shorter when you sell to past customers vs selling to new prospects.
That's because so much of the time intensive sales work has already been done.
The customer has already been educated on your product, you know them and they know you, and closing is faster because you've both been through the process once before.
Note: Sales cycles are 70% shorter for SMBs, cycle length varies widely for larger organizations.
Selling to past customers is way easier than selling to new prospects. As a matter of fact, the win rate is 5X better. That's because ...
1) Sales is a trust game and you have an existing level of trust with your past customers.
2) You also know a lot about them so you can create more personalized messaging and more targeted offers.
3) You have relationships with your past customers and about 1 in 3 will tell you what it’ll take to win their business back.
Sources: Customer Winback Benchmark Study - Marketing Metrics / Ipsos Loyalty - Customer Winback by Jill Griffin
Instant Sales Pipeline
Winback Delivers Instant, High Quality Pipeline
Your past customers are a tremendous source of new pipeline, here's why ...
Large Number of Opportunities
We all have a lot of past customers and most all of them are excellent sales opportunities you can instantly add to your pipeline.
Your past customers are also highly qualified sales opportunities. That's because they've demonstrated a need for your product in the past and they probably still have that need or will have it again in the future.
High Conversion Rate
Past customers return in large numbers. On average, 26% of lost customers return, and if that wasn't enough, when they return they typically generate 110% of what a new customer generates.
In short, your past customers are highly qualified, high value sales opportunities just sitting in your CRM ready to be instantly added to your pipeline.
Source: Customer Winback Benchmark Study - Marketing Metrics / Ipsos Loyalty
3x sales Velocity
Sales velocity tells you how fast you’re making money.
And sales velocity for customer winback is at least 3X better than the velocity for new prospects. That's because ...
More Sales Opportunities
Almost all of your past customers are new sales opportunities.
Higher Win Rate
The win rate for selling to past customers is higher than for new customers and that drives sales velocity higher.
Bigger Deal Size
Winback deal size is typically 110% of the deal size for a new customer and that increases velocity 10%.
Sales Cycles are 70% Shorter
That means you can winback 3 past customers in the time it takes to win one new customer. And that alone triples sales velocity.
Source: Customer Winback Benchmark Study - Marketing Metrics / Ipsos Loyalty -
Harvard Business Review - March 2016 Winback Study
what's your revenue opportunity?
The Customer WinBack Calculator simulates the potential sales and ROI that could be realized with a well-executed Winback Campaign.
How does winback work?
Identify the lost customers with the highest revenue and ROI potential.
Get a deep understanding of what it will take to win them back.
Use what you learn in Step 2 to create a winback engine that delivers exceptional revenue.