A study commissioned by business consulting giant Bain & Co. has clearly identified that an increase in customer retention by a mere five percent can increase profits by twenty five percent. Another study confirms that while there is a sixty to seventy percent chance of converting an ex customer into a repeat one, there is only a maximum of twenty percent chance of converting a lead into a new customer. Thus it is extremely important to revive customers that have been lost to businesses. Companies need to conduct internal business research to gauge what were the features that these ex customers really liked. Those aspects must be provided to them using webinars, info-graphics or videos. Top class content must be created for them using blogs, case studies or e-books. The company must position itself as a resource for information and help which it can provide at time of need. If all such tactics fail, one can always fall back on simply asking for product feedback to simply engage the ‘dead’ customer.


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