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Harris Interactive Src Risk, Churn, Win Back Workshop
Harris Interactive Src Risk, Churn, Win Back Workshop
Harris Interactive Src Risk, Churn, Win Back Workshop
Harris Interactive Src Risk, Churn, Win Back Workshop
Harris Interactive Src Risk, Churn, Win Back Workshop
Harris Interactive Src Risk, Churn, Win Back Workshop
Harris Interactive Src Risk, Churn, Win Back Workshop
Harris Interactive Src Risk, Churn, Win Back Workshop
Harris Interactive Src Risk, Churn, Win Back Workshop
Harris Interactive Src Risk, Churn, Win Back Workshop
Harris Interactive Src Risk, Churn, Win Back Workshop
Harris Interactive Src Risk, Churn, Win Back Workshop
Harris Interactive Src Risk, Churn, Win Back Workshop
Harris Interactive Src Risk, Churn, Win Back Workshop
Harris Interactive Src Risk, Churn, Win Back Workshop
Harris Interactive Src Risk, Churn, Win Back Workshop
Harris Interactive Src Risk, Churn, Win Back Workshop
Harris Interactive Src Risk, Churn, Win Back Workshop
Harris Interactive Src Risk, Churn, Win Back Workshop
Harris Interactive Src Risk, Churn, Win Back Workshop
Harris Interactive Src Risk, Churn, Win Back Workshop
Harris Interactive Src Risk, Churn, Win Back Workshop
Harris Interactive Src Risk, Churn, Win Back Workshop
Harris Interactive Src Risk, Churn, Win Back Workshop
Harris Interactive Src Risk, Churn, Win Back Workshop
Harris Interactive Src Risk, Churn, Win Back Workshop
Harris Interactive Src Risk, Churn, Win Back Workshop
Harris Interactive Src Risk, Churn, Win Back Workshop
Harris Interactive Src Risk, Churn, Win Back Workshop
Harris Interactive Src Risk, Churn, Win Back Workshop
Harris Interactive Src Risk, Churn, Win Back Workshop
Harris Interactive Src Risk, Churn, Win Back Workshop
Harris Interactive Src Risk, Churn, Win Back Workshop
Harris Interactive Src Risk, Churn, Win Back Workshop
Harris Interactive Src Risk, Churn, Win Back Workshop
Harris Interactive Src Risk, Churn, Win Back Workshop
Harris Interactive Src Risk, Churn, Win Back Workshop
Harris Interactive Src Risk, Churn, Win Back Workshop
Harris Interactive Src Risk, Churn, Win Back Workshop
Harris Interactive Src Risk, Churn, Win Back Workshop
Harris Interactive Src Risk, Churn, Win Back Workshop
Harris Interactive Src Risk, Churn, Win Back Workshop
Harris Interactive Src Risk, Churn, Win Back Workshop
Harris Interactive Src Risk, Churn, Win Back Workshop
Harris Interactive Src Risk, Churn, Win Back Workshop
Harris Interactive Src Risk, Churn, Win Back Workshop
Harris Interactive Src Risk, Churn, Win Back Workshop
Harris Interactive Src Risk, Churn, Win Back Workshop
Harris Interactive Src Risk, Churn, Win Back Workshop
Harris Interactive Src Risk, Churn, Win Back Workshop
Harris Interactive Src Risk, Churn, Win Back Workshop
Harris Interactive Src Risk, Churn, Win Back Workshop
Harris Interactive Src Risk, Churn, Win Back Workshop
Harris Interactive Src Risk, Churn, Win Back Workshop
Harris Interactive Src Risk, Churn, Win Back Workshop
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Harris Interactive Src Risk, Churn, Win Back Workshop

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Identifying causes of customer risk and churn, and then applying approaches for prospective winback, are tremendously important to any company. The content of this presentation enables organizations …

Identifying causes of customer risk and churn, and then applying approaches for prospective winback, are tremendously important to any company. The content of this presentation enables organizations to optimize customer loyalty behavior

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  • Introduction: In this training session I am going to talk to you about SRC’s Customer Churn & Winback solution—1) what is the business issue it addresses, 2) our conceptual POV, 3) a description of the solution, 4) at a high level how we execute it, and 5) examples of the deliverables and follow up consulting services. In so doing, I’m going to discuss how to talk and sell this solution to clients. Let’s start with who is the client for this solution? It is every client. At some point in the customer lifecycle some percentage of customers are going to leave for a variety of reasons. This is not something that any organization can ignore, because the organization’s reputation and financial well-being are at risk. In terms of differentiation, this is not a business issue that has any one common solution like we have with measuring loyalty or tracking how well an organization is meeting customers’ expectations. I believe we have some fairly good analytical approaches that provide the basis to say that we have a very robust, actionable offer. Let’s begin.
  • In these first series of slides we want to set the context for our solution. We want to set up the foundation for our proposition by telling them what is the marketplace environment and business issue about which they need to be concerned and for which our product is the answer. In short, this is where we tell them why they absolutely need our solution.
  • To begin, it is no longer business as usual. Bad economy  businesses and people’s pocket books are shrinking. Every dollar spent has to be justified Word-of-mouth phenomena mean that organizations no longer control the conversations in the marketplace about them. Stakeholders do. Everything is starting to look the same. The playing field has expanded to be global. There is always someone else out there who will build a better mouse trap and sell it for less. We have become far more cynical and less civil in our views. Stakeholders Pop-Up What this means that stakeholders are more empowered and more sophisticated than ever.
  • We have seen this slide before. When a company’s brand promise matches an individual’s or business’ needs/wants/values, that is the extent to which that individual or business will be attracted. However, should their experiences with that organization fail to live up to the brand promise and, therefore, fail to meet the customer’s expectations, that is the extent to which that customer is at-risk and will leave. Given this background; this situation, our Churn & Winback product is one of our solutions to enable organizations to address this situation.
  • The problem is that organizations ultimately execute poorly against some or all of their stakeholders’ expectations, starting with the very fundamental problem of not knowing what stakeholders expect in the first place. Earlier we talked about how our Touchpoint Experience Design solution addresses this specific issue. The success of executing stakeholder experiences is contingent on linking strategy, staff and operations; all of which must be synchronized with each other and should be continually informed by stakeholder input and feedback. At some point in the customer’s lifecycle with any brand or company, the relationship will sour. And when that happens, we have Customer Churn.
  • Paraphrase bullets
  • This is some figures from research conducted by Jill Griffith. Jill is an expert on Customer Churn and winback and has collaborated on books and articles with our Michael Lowenstein. Paraphrase bullets. There is a risk for not being more attentive to this issue as we will see next.
  • Paraphrase bullets.
  • In the realm of managing Stakeholder relationships there are 5 basic questions that our clients face. READ THROUGH EACH.
  • For each of these 5 questions we have a unique, highly competitive offering.
  • Let’s now look at the Churn & Winback solution—what it is, how we do it, what we give to clients and how we can support them following the survey.
  • READ THE DEFINITION. Here we want to stress a few points: The actionability of the offer The fact that we can capture some of the nuances of defection. For example, we do not simply list the reasons, but can show what combination of negative experiences can adversely impact customer loyalty. We also can help our client design strategies to winback lost customers.
  • Paraphrase bullets. We want to stress the fact that we have a 360 degree perspective on the issue. Not only do we want to hear from customers, but we also want to hear form internal stakeholders on why they think customers are leaving. And, as in our other solutions, we can go beyond the research and help drive the learning through the client organization.
  • Sampling It is important that we not only survey lost customers, but current ones as well. The main reason is that: We need to ascertain whether those who have left are unique or representative of a larger pool of existing customers who therefore may be at-risk. Questionnaire We have no canned or obligatory battery of questions that must be asked. We simply have a protocol Analyses This is the heart of our offering and where we can demonstrate expertise on the topic.
  • First and foremost we want to identify what, if any, differences are there between churned customers and existing ones. Again, this helps us to identify whether the churned customers are unique and perhaps a small group or, instead, represent a larger embedded group of existing customers who may be at-risk.
  • Customer churn is rarely a result of some isolated experience. Rather, it may be a combination of performance events and/or customer characteristics. Here we create a model to identify the combination of events and/or customer characteristics that are most “toxic” in terms of leading to customer churn. It identifies key differences among customers, contrasting those who stay with those who have dropped some services, and those who have defected entirely. Go through the example. In this example, it may be that small professional services firms had a need for more personalized contact.
  • A cornerstone of our corporate value proposition is to be councilors to our clients. Accordingly, we want to and can provide services to them beyond the collection, analysis and reporting of the survey data. One can execute wonderful research only to fail in terms of its actionability. This creates a sweet spot for us in terms of an added value service we can provide. Lack of actionability can occur at our end with analyses and reporting that fails to adequately tell our clients what they need to do. Lack of actionability also can occur on the client’s end in their inability to take what we have given them and act on it. In addition to the kinds of actionable analyses and reporting that we have just seen, we also can work with our clients to help them translate the research into actionable activities.
  • Two points here should be emphasized: We help drive the learning We show our clients how to use this knowledge
  • Let’s now look at a case study. Our client here is Emerson.
  • Transcript

    • 1. Customer Risk, Churn, and Successful WinBack Michael Lowenstein, PhD CMC Senior Vice President and Senior Consultant Stakeholder Relationship Consulting CoE © Harris Interactive
    • 2. The Business Issue © Harris Interactive
    • 3. Organizations Today Are Facing Rapidly Changing Market Dynamics Deteriorating global economic conditions Commodity markets with comparable products, pricing and services Fierce competition pressures both globally and locally © Harris Interactive Quick dissemination of information, new social and digital networks Significant shift in public and government view of corporations Consequently, key stakeholders to any organization are becoming more empowered, more sophisticated, and growing in number
    • 4. “ Successful companies are those where the brand promise is matched by the stakeholders’ experience”
    • 5. Line of Sight Between…..
      • Transactional customer touch points; both KPMs and relationship components
      • Longitudinal customer experience and overall perceived value
      • Creators of risk
      • Drivers of churn; final factors
      • Opportunities for customer recovery/winback
      © Harris Interactive
    • 6. “ Execution is the main reason why companies fall short of their promises ”
      • Execution – Aligning the brand promise and the customer experience,
      • and synchronizing strategy, people, and operations
      © Harris Interactive
    • 7. Identifying the customer “line of sight”… … and linking strategic value delivery planning with implementation
    • 8. Seven S Customer-Focused Direction Structure Systems Strategy Style Shared Values Skills Staff
    • 9. Customer Churn
      • Unprecedented time of customer turnover around the world. Churn at epidemic levels*
      • Most companies lose 10% - 40% of customers each year*
      • ONLINE – McKinsey/ePeformance reports 98.7% of online visitors do not become repeat customers. Most sites lose 60% of first-time customers in six weeks*
      • OFFLINE – Mobius Management Systems , Rye, NY reports 60% of consumers cancelled accounts with banks due to poor service; 35% - 40% changed insurance providers, telephone companies, credit cards, ISPs*
      • * from Customer WinBack , Jill Griffin and Michael Lowenstein
    • 10. Are Companies Paying Attention? Do you conduct defection interviews among lost customers ? B-to-B, Sales/Marketing Managers and Purchasing Agents* Do you know how many customers you lose per year? “ No” 48% 30% 20% MARKETING MANAGERS SALES MANAGERS 40% 60% 80% 100% 0% “ No” 47% 43% 20% MARKETING MANAGERS SALES MANAGERS 40% 60% 80% 100% 0% * from Customer WinBack , Jill Griffin and Michael Lowenstein
    • 11. Purchasing Agents’ Results*
      • Commodity vs. Customer Orientation: 43% of Purchasing Agents said suppliers were customer-oriented vs. 73% of Sales Managers and 71% of Marketing Managers who gave that answer
      • Much lower ratings than Sales or Marketing Managers on “Rapport/Relationship With Supplier”, “Speed of Follow-Up”, and “Proactive Communication”
      • *from Customer WinBack , Jill Griffin and Michael Lowenstein
      “ Suppliers are customer oriented.” 43% 20% PURCHASING AGENTS SALES MANAGERS 40% 60% 80% 100% 0% MARKETING MANAGERS 73% 71%
    • 12. Perceptual Gap Profile Purchasing Agents vs. Sales Mgmt vs. Marketing Mgmt * Based on % high (5) performance ratings on a 5-point scale 1. Consistent product/service quality 2. On-time performance/delivery 3. Knowledge of needs & requirements 4. Proactive communication 5. Speed of follow-up: requests/inquiries 6. Accurate billing 7. Competitive pricing 8. Quick, responsive problem solving 9. Accessibility of supplier contact/service staff 10. Attention to details 11. Rapport/relationship with supplier 12. Knowledge/expertise of supplier contact staff 13. Value-added service support 14. Ability to anticipate your needs 15. Dependability of supplier contact staff 16. Flexibility and adaptability of supplier 17. Availability of multiple communication channels with supplier 18. Availability of multiple purchase channels PURCHASING AGENTS SALES MANAGEMENT MARKETING MGMNT 0% 10% 20% 30% 40% 50% 60% 70% High Performance*
    • 13. Risk of Loss Often As Serious
      • Retail Banking Example
      • Value of Share of
      • Deposits Customers
      • Year 1 Deposit Val. 100% 100%
      • Loss/Defection -3% 5%
      • Loss/Reduced Bal. -24% 35%
      • Gain/Increased Bal. +25% 35%
      • Year 2 Deposit Val. 98%
      • Source: McKinsey Consulting Study
    • 14.
            • Intentionally pushed away
            • Unintentionally pushed away
            • Pulled away
            • Bought away
            • Gone out of business
      • Customers defect for numerous reasons: Unmet expectations, low perceived value, competitive attraction, unexpressed and unresolved complaints
      • Winning back customers can be a rich source of renewed revenue and customer loyalty. A customer’s second lifetime value can be significantly greater than his/her ‘first life’ value.
      • Lost customers can create exponential damage to future financials through viral, negative, word-of-mouth.
      Causes/Effects of Risk and Churn
    • 15. Our Clients’ Questions….. What are stakeholders’ relationship needs? How well do we and our competitors meet them? How well are we delivering on customer needs and touchpoint experiences? Are our employees committed to the organization and are they managed to deliver the desired customer experiences? How can we prevent customers from churning? If they leave, how do we win them back? What experiences do customers require at each service touchpoint?
    • 16. … ..Matched by Our Service Offerings Linking to Financial & Process Impact Customer Experience Monitoring Employee Commitment & Ambassadorship Churn & Winback Touchpoint Experience Design Stakeholder Relationship Assessment
    • 17. Risk, Churn & WinBack Overview © Harris Interactive
    • 18. Our Service Offerings Identifies which customers are leaving and why, who is at risk and develops proactive strategies to avert churn and offers to winback churned customers Churn & Winback
    • 19. How to identify the high percentage of their customers who are at risk and may defect
    • 20. At-Risk Customer Behaviors
      • 1. Approval comes slower
      • 2. Access to decision maker decreases
      • 3. Slow in paying invoices
      • 4. Plans for future work more short-term
      • 5. Stops using one or more of your services
      • Reduces spending
      • Expressed/unresolved or unexpressed complaints
      Source: Customer Loyalty : How to Earn It, How to Keep It by Jill Griffin
    • 21.
      • We have a 3-phase approach to addressing customer churn and winback that involves a 360 degree perspective on the issues.
      • Phase I – Qualitative Research
        • In-depth interviews with lost customers to identify the continuum of issues affecting churn
        • In-depth interviews with employees to understand internal issues related to churn and to generate hypotheses to test in quantitative research
      • Phase II – Quantitative Research
        • Identify reasons for churn by customer segment (i.e., immediate triggers, longer term motivators )
        • Assess ‘save’ opportunities and likelihood to return to Client
        • Identify Existing Customers who are at-risk for defection or reduced spend
      • Phase III – Action Workshop
      Our Approach
    • 22. Value is About Much More Than Money
      • What is required to obtain benefits and solutions?
      • The Kano Model – approach to understanding value received at touch points and experiences
        • Expected – Failure to deliver will result in likely defection
        • One Dimensional – Desired core, standards of competitors
        • Attractive/Surprising – Positive and unanticipated
      VALUE = Customer-perceived tangible (functional/rational) and intangible (emotional/relationship) benefits supplied + Solutions provided
    • 23. Kano Model Effects of Experience on Potential Influence and Advocacy DELIGHT NEUTRAL DISSATISFACTION Customer Satisfaction Characteristic Presence Absent Fulfilled Performance – More Is Better Basic “Musts” Unknown Needs – Delighters
    • 24. Complaint Inventory: Iceberg in a Reservoir Model POTENTIALLY EXPRESSED UNEXPRESSED COMPLAINTS EXPRESSED EXPRESSED
    • 25. One Company’s Complaint Findings Major Midwest Bank Corporation
    • 26. Implementing Churn & WinBack Investigation © Harris Interactive
      • Lost & Current
      • Stakeholders
      • Triggers for churn
      • Importance of performance
      • attributes
      • Ratings of client/competitors
      • on these performance attributes
      • Likelihood of returning
      • What client could do to winback
      • Word-of-mouth behaviors
      • MaxDiff Scaling
      • Predictive Churn Model or
      • Swing Voter Analysis
    • 27. Maximum Difference Scaling (MaxDiff)
      • Used to identify the differences between current and lost customers.
      • It does this by prioritizing customer needs between the two groups.
      • A “max-diff” analysis has two elements:
      © Harris Interactive A set of comparison questions (tasks) that elicit preferences A statistical technique for analyzing the results
      • I am going to read six groups of possible characteristics that a
      • telecommunications company may have. For each group of three,
      • please select which is more important to you, and which is
      • least important.   
      • Attribute Attribute
      • I Like Least I Like Most
        • __ Short hold times for Technical Support __
        • __ Competitive prices __
        • __ Easy to navigate IVR __
        • __ Competitive prices __
        • __ No contract __
        • __ Fast Internet uploads and downloads __
      Most Important Least Important
    • 28. Churn Likelihood Model
      • Identifies the combinations of events and/or customer characteristics that are most likely to cause customers to churn.
      • It does this by identifying the combinations of performance factors that create churn propensity, drive customers away or drop services, and which of these combinations do the most damage.
      © Harris Interactive
    • 29. Swing Voter Analysis
      • This analysis can be used to identify ways of trying to win lost customers back.
      • It identifies the performance attributes likely to make lost customers, who are neutral with respect to their likelihood of returning, to be more likely to do so.
      • Results of this analysis will show:
        • For swing voter up analysis, identification of the key drivers, and their relative importance, for moving lost customers to be more likely to r eturn.
        • For swing voter down analysis, identification of the dissatisfiers, and their relative importance, that can move lost customers to be even less likely to return .
      © Harris Interactive
    • 30. Implementing Churn Reduction & WinBack Action © Harris Interactive
      • Lost & Current
      • Stakeholders
      • Triggers for churn
      • Importance of performance
      • attributes
      • Ratings of client/competitors
      • on these performance attributes
      • Likelihood of returning
      • What client could do to winback
      • Word-of-mouth behaviors
      • MaxDiff Scaling
      • Predictive Churn Model or
      • Swing Voter Analysis
      Turning Data into Business Insights
      • Actionable answers
      • to each of the key
      • business questions
    • 31. The Challenge “ Good Research, Poor Actionability” © Harris Interactive
    • 32. Beyond the Data Turning Research Results and Business Insights into Action © Harris Interactive A key component of each Churn & Winback engagement is not only to provide research findings and business insights, but to help drive the learning through the client organization to help them act and capitalize on this knowledge. Linking stakeholder experiences to their requirements to optimize stakeholder commitment usually requires direct intervention strategies and tactics with customers and/or process changes. We go beyond the guidance provided by the research to show our clients how to use this knowledge. We have a portfolio of ways to accomplish this.
    • 33. Beyond the Data Turning Research Results and Business Insights into Action © Harris Interactive
      • In a Workshop session with key stakeholders,
      • we facilitate how, through multiple techniques,
      • to prioritize/develop action plans focusing on:
        • Understanding reasons for churn
        • Prioritizing improvements to reduce churn
        • Determining target groups for winback
        • Generating winback offers and research to test them
      • As an option, conduct quantitative research to test winback offers
        • Conjoint/Discrete Choice modeling to test various features and levels of offers in a competitive framework
        • Simulate share of preference for alternative winback offers
    • 34. Case Study © Harris Interactive
    • 35. As a result of this engagement, they were shown what immediate steps they need to take to reduce poor customer service experiences such as reducing hold time, reducing transfers, reducing the number of times customers call back, and clarifying which employees “own” problems. They also were shown how a system for automatically escalating problems that do not get solved would lessen churn. This phone carrier had long understood, at a high level, the main drivers of Local Telephone service churn. Their knowledge of this problem was based on a predictive model they developed that identifies event-related factors that lead to Customer Churn. Nevertheless, they had found some gaps in their understanding of Churn. Specifically they needed to understand these reasons at a deeper level. They needed an understanding of the attitudinal factors that contribute to churn. Turning to Harris for help, 600 interviews with current and churned customers were done focusing on reasons for dropping service(s), importance of key carrier attributes, likelihood of returning to the client company, what, if anything, our client could do to win their business back, word-of-mouth behaviors. The research revealed the following combination of negative customer experiences that undermined their customer relationships: While non-competitive prices are the major reason customers leave, it is poor service that keeps them away. Among Churned customers who left mostly or solely because of price, they will reconsider our client. However, Churned customers who had poor service experiences, and particularly those who felt our client violated their trust or made them feel unimportant, are far less likely to reconsider this carrier. Business Issue: Stop Customer Churn
    • 36. Why Win-Back Pays
    • 37. Why Win-Back Often Goes Unmanaged/Unleveraged
      • Retention rates can mislead
        • 1,000 freshmen: 80% retention rate per year
        • Sophomore class 800, Junior class 640, Senior class 512
      • Revenue loss and profit recovery opportunity not recognized
      • Lost customers considered “dead”
      • Politics
    • 38. Win-Back Pays Source: Customer Marketing Research Study Probability of a Successful Sale NEW PROSPECT EXISTING CUSTOMER LAPSED CUSTOMER 5 - 20% 60 - 70% 20 - 40%
    • 39. Win-Back Pays: Documented Example Doubleday Direct EXTERNAL LIST/NEW CUSTOMERS EXPIRED MEMBERS $13 $60 23% 214% Net Per Order Net R.O.I . Mailing
    • 40. Why Win-Back Pays
      • Develop profile for lost customers that can help detect “at-risk” customers
      • Improve acquisition/targeting strategies
      • Reduce negative word-of-mouth
      • Improve your bottom line by reactivating lost customers
    • 41. Target the right former customers for WinBack
    • 42. “ I have a phone line downstairs in my home that I use for occasional business purposes. Never a long distance call. And about every six months, I get an offer I can’t refuse and I switch the thing from one long distance carrier to another .” Source: Customer Winback by Griffin and Lowenstein “ Why would they even want me?”
    • 43. High Future Value of Recovered Customer The value of the relationship once the customer is regained. Second Lifetime Value (SLTV)
    • 44. Second Lifetime Value Calculation Orders per year x Average order = Base revenue Cross-sell $ + Information value $ = Total Revenue Costs (direct, Win-Back, retention) = Gross Profit ADD MINUS
    • 45. Why SLTV may be greater than LTV
      • Defected customer already familiar with your services
      • More information on likes/dislikes than with prospects
      • Personal recognition through win-back lead to better sales performance than typical anonymously recruited first-time customer
      • Length of prospect phase and new customer phase may be shorter in SLTV than LTV
      Source: Customer Winback by Griffin and Lowenstein
    • 46. Lost customer recovery programs
    • 47. Measure Understand Evaluate Refine Your Win-Back Program
    • 48.
      • 1 million subscribers in 28 cellular systems
      • Gaining 2,500 customers per day; losing 500 per day
      Example: BellSouth Mobility (now AT & T)
    • 49. Win-Back Research
      • Test market = regain 10% lost subscribers
      • Focus groups: better than competitors on... coverage, service, billing system
      • Problems... drop call credit, free phone/air policies, etc.
    • 50. Win-Back Lessons
      • Get Relevant
        • Make your re-contact communication specific
      • Test Different Offers
      • Watch Your Timing
        • 11 months after defection
      • Use Multiple Contacts
        • Overlay direct mail with telephone
    • 51. More Win-Back Lessons
      • Win-Back effort only as successful as the people involved
      • Successful Win-Back reps need training, constant coaching, team support
      • Management: Recognize Win-Back work is stressful
      • Win-Back and marketing efforts can support each other
      • Effective Win-Back reps are among the most valued employees of any company
      Source: Customer Winback by Griffin and Lowenstein
    • 52. Your Re-Approach Message
      • Acknowledge past patronage
      • Point out improvements/changes since last visit
      • Emphasize ease of re-engagement
      • Send under recognizable name
      • Provide possible financial/value incentive
      Source: Customer WinBack , Jill Griffin and Michael Lowenstein
    • 53. Put successful stabilization programs into place: Manage touch points and experience
    • 54. Getting Started
      • Make it known in your company: The only thing worse than losing customers is neglecting the opportunity to stabilize them or win them back
      • Use purchase data to pinpoint/monitor defected customers, and to identify at-risk customers
      • Develop LTV/SLTV formulas
      • Create Win-Back/save and stabilization processes and protocols such as teams
      1 2 3 4
    • 55. © Harris Interactive Contact Information Michael Lowenstein, PhD CMC Senior Vice President and Senior Consultant Stakeholder Relationship Consulting Harris Interactive Princeton, NJ USA 609 919-2524 or 856 283-1182 [email_address]

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