The Chairman of one of the largest book clubs in the country once told me that his best source of new customers is lapsed customers.
The recovery program is simplicity itself: ask customers to come back and give them a reason to come back. The Chairman said they’d tested different ways of asking and the winner was a charming “pussycat mailing” with a whimsical illustration of a cat begging people to please come back.
Shortly after, a business-to-business client in Queens asked us to develop creative for a new customer acquisition campaign because they had lost 3,700 customer-companies in the last three years. We asked our client got his entire staff on the phone, and within a couple of weeks had won back half of his lost customers. It would have taken him a couple of years, and a lot more money, to get that many new customers.
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