Every business wants to grow both in terms of revenue and customers, and both are interrelated for sure. If you want to grow, it’s important to attract more customers and convert leads. However, often, we don’t realize the importance of retaining the customers that we already have. It is always beneficial to drive more business from the existing set of customers. Microsoft Dynamics 365 is one such CRM tool that helps the firms to smoothly plan and execute customer retention campaigns.
Retaining the customer is less expensive and time-consuming as compared to finding the new customers. If a firm is able to retain most of its customers then it is certainly doing what is required. You’ve to understand that onboarding new customers cost 5 times more than retaining existing customers. Now, that you’ve realized the importance of retaining your customers, won’t you like to win back your lost customers with efficient initiatives using Microsoft Dynamics 365?
Though, retaining the customers is one thing, winning back the lost customers is other! But, an impactful customer win-back strategy is all that a company needs to get back the lost customers. The strategy should be conceptualized keeping in mind various important factors. Customer wins back programs and campaigns have to be curated specifically to attract old customers. They should contain all the right ingredients to win their trust.
Listed below are a few things to keep in mind while curating customer win back programs through Microsoft Dynamics 365:
Get to the core of the problem
The first step to earn the trust of the lost customers is by getting to the crux of the issue. You need to find out the exact reason why they left you. You would have to know what disappointed them. There has to be something that led to their decision of choosing someone else. If you know their exact problem, then it would be easier for you to solve the issue.
Your customer support team has to be trained to understand the customer well. They need to find out the main pain points of the customer. Once, you are able to identify that, you’ve already won half the battle. Identifying the problem will give you a direction to base your customer win back strategies. Various reports in Dynamics 365 will help you get the details about the problem customers are facing.
Give them a reason to choose you back
If a customer decided to leave you and opt for someone else’s services or products than there has to be some reason behind it. Once you know the reason you’ve to work towards solving the problem. You would’ve to let the customer know that you value them. Your messaging should justify that now, customers will get what they expect from you.
In order to win a customer’s trust, you’ve to make them feel special. You need to find ways to let the customer know that you’ve actually worked dedicatedly to solve their problem. The message should be loud and clear. Microsoft Dynamics 365 allows you to curate interesting campaigns to win back the lost customers.
Offer something exciting
Special discounts and offers always work. Therefore, plan a special loyalty program aimed to specifically win back the lost customers. The program should aim to offer something special to the customers. If the discounts are more personalized then they’re going to have a much larger impact.
At the end of the day, loyalty programs do work if they are managed successfully. Therefore, make sure you’ve right offers to present to the right customers. After all, 76% of customers feel that personalized discounts are more important. Also, the message also plays a major role. Therefore, you make full use of Microsoft Dynamics 365, and create fabulous customer retention plans to win back most of the customers. As Dynamics 365 does has a lot in store to enable the company plan and implement exciting marketing campaigns.
Johnny Morgan here as an experienced technical writer at Aegis Infoways since more than 5 years. I like to write technical articles especially for CRM, .Net, Hadoop and JAVA.