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Customer winback refers to the strategies and efforts businesses use to re-engage and reactivate former customers who have stopped purchasing, unsubscribed, or become inactive over time. The goal is to bring these lost customers back and rebuild their loyalty.
Winning back previous customers is often more cost-effective than acquiring new ones. These customers are already familiar with your brand, they just need a compelling reason to return. A solid winback strategy can improve retention, reduce churn, and increase customer lifetime value (LTV).
Here are some effective customer winback strategies:
A customer cancels their skincare subscription. One week later, they receive an email with a 20% discount and a note about a new product added to the lineup. They re-subscribe, that’s a successful customer winback.
Timing is key. Don’t wait too long to reach out after a cancellation or inactivity. The sooner you re-engage, the higher the chance of winning them back.