For any organization or business, customers/members are among your most valuable assets. The costs of acquiring new customers or members is high, especially when you’re investing in highly targeted, data-smart tactics. This puts customer/member retention in the driver’s seat, making it ultra-critical and productive to satisfy and retain current customers and members. Far more cost effective than researching, targeting, reaching, engaging and cultivating to prospects, right?
According to Inc., American businesses experience annual churn rates anywhere from the low single digits to above 50 percent. That means some businesses are losing half their customers each and every year.
Retention is even more critical for membership-based organizations like ASQ, The American Society for Quality. A global organization, ASQ was determined to identify and re-engage lapsed members. And they came to Responsory to make it happen.
To help ASQ win back members who let their professional membership with the organization lapse, Responsory developed a multichannel program including:
- Landing page
- Smart Zones display advertising
Before a single concept was created, our first task involved a significant investment of time and resources to conduct a thorough discovery effort. This included profiling and modeling their lapsed members to identify important characteristics, trends and common denominators.
This deep dive into ASQ’s data along with secondary research helped us to produce fact-based marketing strategies. The data allowed us to generate insightful lapsed member persona profiles complete with the most common reasons these ex-members allowed their membership to lapse.
From there, messaging and creative was developed. Together, the mailing, email and Smart Zones display ad campaign drove the highly targeted audience to the landing page crafted specifically to appeal to this audiences’ hot buttons.
The program earned a CTR of more than double the benchmark for a Google Display ad campaign –.04% vs .10%–and the multi-channel campaign earned about 200 rejoin memberships and 100% ROMI.
If lapsed customers are a focus for your business, let’s talk soon about your win-back strategy. Contact us.