We all know that attracting new customers is tougher and more expensive than keeping existing ones. You need to understand the cost and response metrics of each prospect universe and channel. You can then apply an integrated approach that balances the quality and quantity of new business generated.
So, you’ve had that great 'first date', now you need to pull out all the stops to keep them coming back. Customers are most receptive when they’ve already bought into your brand, so treat them right and this could be the start of a beautiful friendship. Our welcome programmes ensure a high level of customer engagement to maximise cross-sell and up-sell opportunities in those early days.
Yes, those early stages are important, but you mustn’t let things slide once the honeymoon is over. The good news is, by now you know each other well, and you have myriad behavioural data to inform your next move. Keep them engaged with highly personalised, event-triggered communications - remember their birthday, send offers they’ll love, and treat them as individuals – they’ll reward you for it.
If you drift apart, you can still recapture the old magic with the right win-back programme. But know when to pick your battles: use your data to tell you when you’re wasting your time chasing old memories, and when you’re actually better off without them. Some propensity scoring and value modelling can tell you who to pursue and who to let go.