Why win-back strategy is important?

One secret to have a customer base which always grows YOY and attracts funding!

#Skillshare, the online learning platform, attracted $28 million in series C In 2018.

100% revenue growth due to a user base which was growing & contributing despite being in an extremely competitive industry played a vital role in series C.

I believe, the formula to have a healthy customer base = A + B + C

A =Getting New Customers
B = Retaining existing customers
C = Winning back “about to be churned customers”

In my consulting experience, I have observed that several businesses do the mistake of assuming “retention “and “win-back” to be one!

And hence implement a customer win-back strategy long after when a customer has already discontinued buying.

This is WRONG!

Instead, a customer win-back strategy should be implemented as soon as the servicing team identifies the signs of churn.

If you look around, the best win-back strategies are proactive and one step ahead of the customer intentions.

For example, Skillshare offers a special discount to re-buy the premium version to customer who are about to leave.

“Win-back” and “Retention” strategies need to be treated as two separate animals.

Agree?

#GallaVichaar

#WinBackStrategy #CustomerRetention #CustomerJourney #b2c #b2b

Published by: Zeeshan Sajid Amin

Zeeshan Sajid Amin is a Senior Media Professional with proven record of driving better revenues, productivity & profitability for the various companies he worked with. His key expertise Include (& go beyond) : Revenue generation, Ideation, Content, Partnerships & OTT. He has participated in launching major sales campaigns for several leading regional media houses/television channels, including ARY Digital, B4U Aflam, B4U Plus, NEO Cricket, Zee Aflam and Zee Film Hindi, contributing in recent years to multi-million $ revenue generation. Follow him on Linkedin: www.linkedin.com/in/zeeshansamin

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