There's Gold Buried
How Much Gold?
Customer winback programs generate an average of $485K for SMBs. Larger organizations generate millions.
Source: Customer WinBack Benchmark Study
Why So Much Revenue?
On average, 26% of lost customers return.
Lifetime Customer Value doubles or more for returning customers.
Faster, Easier, High ROI Sales
Faster because the sales cycle is 70% shorter when selling to past customers.
Easier because the win rate for past customers is 5X better than for new prospects.
The ROI for customer winback programs is 32X or better.
The WinBack Framework
Identify the lost customers who have the highest revenue and ROI potential.
Understand why they left and what it'll take to win them back.
Design & Deploy
Design a winback process that maximizes revenue and ROI, then deploy.
Mini Case Studies
$700K in WinBack Sales
A media company in the Mid-West generated over $700K in their first winback campaign.
Read More ...
For years the company focused solely on new client acquisition and old clients were basically ignored.
But that all changed when a new sales manager was brought on to run one of the company's smaller branches.
As this new sales manager went through the CRM, she said
"I saw DORMANT, DORMANT, DORMANT.
I asked around and no one was doing anything with these accounts so the first thing I did was create a strategy to win back these accounts because I've always found that old customers are really great prospects. "
In total, she generated $700k from those past clients.
And that extra $700K was enough to put her number over the top and she named the Sales Manager of the Year.
This was a huge win, but it was even sweeter because she ran a small office and beat out all the managers in all the big branches.
$1.5M WinBack Sales
An East Coast staffing company earned $1.5 million with their first winback campaign.
Read More ...
The company was going to be sold and they needed to generate a lot of new sales fast to maximize valuation.
But the sales cycle was very long and they needed sales fast. They didn't have enough time to find new prospects, educate them, build relationships and convert.
So the marketing manager did something extra-ordinary.
She immediately stopped all new prospecting and focused everyone on winning back old clients.
The idea was that sales cycles would be much shorter with past clients because so much of the time intensive work like finding prospects, educating them and building relationships had already been done.
And experience had taught her that customers who come back generate more revenue than new clients.
So in her mind, winback was a double win - shorter sales cycles and more sales.
The campaign turned out to be a huge success. In under 6 months over 40% of their lost clients were won back and $1.5M in new sales were created.
And many of those returning clients stayed on for years generating millions more for the acquiring company.