Businesses are spending vast sums in marketing to acquire new customers trying to replace their lost customers. But research shows that they might be better served by designing strategies to bring back your lost customers. The chances of selling to an existing customer is 60 – 70%, while the chances of success for selling to a new prospect is 5-20%. Existing customers are 50% more likely to try new products and spend 31% more, when compared to new customers. So, how are you re-engaging with your past customers? Or even, do you have a track of who had been your past customers?

Businesses are spending vast sums in marketing to acquire new customers trying to replace their lost customers. But research shows that they might be better served by designing strategies to bring back your lost customers. The chances of selling to an existing customer is 60 – 70%, while the chances of success for selling to a new prospect is 5-20%. Existing customers are 50% more likely to try new products and spend 31% more, when compared to new customers. So, how are you re-engaging with your past customers? Or even, do you have a track of who had been your past customers?

There are numerous choices for consumers to join membership. Today they have enrolled to your membership loyalty program, tomorrow they join another one and goes on increasing. They seldom remember what benefits you have for them. So, how are you going to keep them engaged?