Customer Winback: How to Recapture Lost Customers--And Keep Them Loyal

by Jill Griffin (Marketing Resources Center, Inc., Austin, Texas); Michael W. Lowenstein (Customer Retention Assoc., Upper Darby, Pennsylvania)

• ISBN13: 9780787959449
• ISBN10: 0787959448
• Format: eBook
• Copyright: 2002-02-01
• Publisher: Jossey-Bass

Summary

Most firms consider the lost customer a lost cause. But in this ground breaking book, Jill Griffin and Michael Lowenstein provide you with step-by-step solutions for winning back lost customers, saving customers on the brink of defection, and making your firm defection proof. Whether your business is small or large, product- or service-based, retail or wholesale, this book offers proven strategies for recognizing which lost customers have the highest win-back value and implementing a sure-fire plan to recover them. It includes the techniques of hundreds of innovative companies who are already working to recapture lost customers and keep them loyal. In today's hyper-competitive marketplace, no customer retention program can be entirely foolproof, but with this guide gives you today's best methods for winning back those customers you simply can't afford to let go.

Table of Contents

Foreword	xiii
Don Peppers
Martha Rogers
Preface	xv
Acknowledgments	xix
The Authors	xxi
Part One: How to Win Back Lost Customers	1	(138)
Why Customer Win-Back Is Critical to Your Success	3	(19)
It's a fact---most companies don't track customer loss and lack strong win-back programs and systems
Three key reasons why customer defection goes unmanaged
The short-and long-term substantive rewards of customer win-back
How companies like First Union and Doubleday Direct are saving high-value customers
Managing the Big Three: Acquisition, Retention, and Win-Back	22	(31)
The interconnectivity of acquisition, retention, and win-back
How you can turn your firm into a customer loyalty laboratory
Six customer groups you want to track
Practical ways to slice and dice purchase data and uncover important trends
Why you need to know customer lifetime value and how to estimate it
The win-back decision map---your direction finder for recovering lost customers and saving at-risk customers
Winning Back a Lost Customer	53	(36)
Different ways customers say good-bye
How to determine whether a customer is worth winning back
How to estimate the second lifetime value of a win-back prospect---even with little data
Five defector categories---uncovering a customer's real reason (s) for leaving
Creating a win-back communication plan that reinstates customer trust
How BellSouth Mobility tackled customer win-back and measured win-back success
How to Save a Customer on the Brink of Defection	89	(34)
Saving customers at Cellular One, IKEA, and Granite Rock
How to use three-step CPR to save at-risk customers (off-and on-line)
Trust and its influence on saving a defecting customer
Techniques for rapid trust reinstatement
Recognizing three phases of customer loss and intervening early
Seven sources of information about impending customer defection
Mobilizing and Managing a Win-Back Team	123	(16)
The wisdom of top-notch win-back managers
How to mobilize a temporary win-back team
How to set up and manage a permanent win-back team
How to master people, place, and process issues
Part Two: Making Your Company Defection Proof	139	(144)
When You Think Your Customer Is Safe from Defection	141	(34)
Why no customer is ever truly safe from defection
How customer needs and values shift
Using the Kano Model to deliver value that keeps customers coming back
How to research what matters most to customers
Leverasging the customer life cycle
Practicing wondrous entanglement to make customers stick with you
Building a Customer Information System That Drives Loyalty	175	(29)
How Allstate, Mercedes, Sun Express, and the Rio Hotel and Casino are becoming defection resistant
How to design your customer information system
How to capture customer data
How to nurture frontline data collectors
Gathering customer information on-line
How a nontech CEO is successfully navigating his firm toward high-tech functions, one-to-one marketing, and mass customization
Targeting Prospects with Strong Loyalty Potential	204	(23)
Seven rules for targeting the best prospects
Six factors for defining your right customer and spotting customers you don't want
Eight principles for guiding your segmentation efforts
The Casanova Complex and five ways to avoid it
Viral marketing---a new twist on generating word of mouth from customers
Leveraging the Power of Customer-Focused Teams	227	(24)
Why loyalty-driven companies use teams to stay close to customers
Being ready, willing, and able to leverage the power of employee teams
A proven six-step process for changing a traditional, hierarchical structure to a team-based structure
Setting objectives, training, recognition---how to succeed with teams
How to Build a Fiercely Loyal Staff	251	(32)
Staff loyalty---a proven prerequisite for customer loyalty
Why the staff talent wars are only getting worse
The hidden costs of staff defections---surprising ways it damages your bottom line
Managing three common employee crisis periods
Nine best practices for building loyal staff---and, in turn, customer loyalty
Appendix A: The Customer Loyalty Compass: A Proven Process for Finding Customer Value	283	(4)
Appendix B: Estimation of Second Lifetime Value (SLTV) Investment and Profitability	287	(4)
Notes	291	(12)
Subject Index	303	(8)
Company Index	311