I found a good article on re-connecting with inactive clients and prospects, and it resonates with me because it’s a common request among my clients to use their CRM and tie it to an ESP (E-Mail Service Provider) to reactivate dormant prospects and customers. By the way, it costs 7 times more to acquire a new customer than to keep an existing client and the lifetime value is 10 times greater.
We’d like to believe one email blast with the same message to all contacts solves the problem; however, the author believes a win-back campaign requires precise messaging per market segment. Also, it should be rolled out incrementally so if you do get a high bounce rate, it’s easier to clean up for subsequent mailings. Acceptable hard bounce rates are less than 5% per campaign before ESPs take notice.
How are you engaging your inactive prospects and clients ?
The first thing we’d do is determine if your bounces and opt outs are in separate spreadsheets, and consolidate that in the CRM. Then filter the CRM’s to ensure they no longer get emails. In our practice, we hired a client retention specialist to call clients in addition to email. To help her out, I created a one click report that finds our clients sorted by account size. It takes her about 1 minute to find out who needs to be called.
