The document outlines strategies for customer acquisition and winback, emphasizing partnerships, understanding customer lifetime value, and targeted marketing. It suggests methods like referring incentives, affinity marketing, and proactive engagement with existing customers to enhance retention and reactivate lapsed ones. Additionally, it highlights the importance of using analytics to identify at-risk customers and establishing a winback team to facilitate reconnection efforts.

1. Customer Acquisition, Winback Strategy

2. Customer Acquisition Strategy / Growth Hacking
1. Partner with other businesses, even if they seem like the competition.
2. Understand the lifetime value and acquisition cost of each customer.
3. Use paid marketing, but very carefully. Selecting Targets
4. Ask for referrals, and offer incentives. Natural Referrals, advocacy
5. Affinity Marketing : Incentives for Referrals from Groups
6. Affiliation Networks : Paying Commissions for Referrals
7. Offer Relative Advantage : Give them more to talk
8. Switching Costs and Points of Entry
9. Go where your customers are.
10. Don't neglect your existing customers.

3. Life Time Value Focus
1. Calculate all costs of customer acquisition
2. Average Cost of Acquiring a customer
3. Investment of keeping the customer
4. Average Customer Profitability
5. Selecting Targets and designing mix
a. High Value Potential Customers are target
b. Market Mix 4Ps ( Product, Price, Place and Promotion)
c. Optimum Content, timing, fruequency, selecition of media, promotion message from CRM

4. Winback Strategy
Make an effort to reactivate relationships with high value customers
● Identify who is about to leave
● Consider Life time value of lost customers
● Establish why customer left
● Recontact lapse customer
● Provide Reactivation Offer

5. Identify who is leaving
The best time : Before customer terminates the agreement
Use Analytics to determine who is leaving
CRM System should set off automatically to trigger customer
Profile customer on future life time value. life time value
Declining value to key customer base (Again CRM can provide info)
Bad credit risks, option to paying Late

6. Recontact and Reconnect
50% corporations do not contact lost customer
Create a Winback team
Situation and scripts
Reactivation Offer :
Why customer

7. @AjitGJoshi