RENO, NV, May 31, 2023 /PRNewswire/ – Corporate Visions, a leading revenue growth advisory, services, and technology company, revealed a new research-backed commercial approach for reclaiming lost customers. This tested and proven strategy promises to improve performance over traditional consultative selling methods by more than 35 percent.
“Recovering lost customers presents a compelling opportunity for businesses to regain revenue and drive sustainable growth,” said Tim Riesterer, chief strategy and research officer for Corporate Visions. “However, the prevailing approach is to treat win-backs as a routine ‘list exercise’ where you hand salespeople names of lost customers and say go get em’. We’ve proven this fails to deliver optimal results and discovered a better way.”
Recognizing the need for a more effective and precise method, Corporate Visions conducted extensive research, which clearly demonstrates the shortcomings of conventional approaches. It also provides a distinct, winning new strategy, helping more ex-customers answer the question: why return?
The newly introduced approach encompasses a holistic campaign that includes innovative messaging and tailored content assets—including a compelling presentation—along with a sales training launch experience. Based on rigorous research and real-world testing, this methodology improves companies’ ability to generate win-back opportunities with former customers at a higher rate.
In a recent study conducted by Corporate Visions, it was revealed that 90 percent of companies consider customer win-backs a vital part of their growth strategy. However, the majority overlook the inherent uncertainty and costs associated with approaching win-backs in a conventional consultative manner.
By embracing this groundbreaking approach, businesses can unlock a range of benefits, including:
- Enhanced Relevance: Tailoring messaging and content assets specifically for lost customers creates a personal connection and resonates with their unique needs, rekindling their interest in the company’s offerings.
- Customized Engagement: The compelling presentation and training equips sales teams with the tools and techniques to engage lost customers effectively. This personalized approach increases the likelihood of re-establishing fruitful relationships.
- Increased Effectiveness: Compared to conventional consultative selling approaches, the research-based win-back strategy demonstrates a 35 percent improvement in effectiveness. This translates into higher customer re-acquisition rates and improved revenue generation.
“Recovering lost customers requires a fresh perspective and an evidence-based approach,” Riesterer adds. “By leveraging this research-backed approach, companies can transform their win-back efforts from a best guess to a confident growth campaign that eliminates uncertainty and maximizes the potential of their former customer base.”
About Corporate Visions
Corporate Visions is the leading provider of science-backed training and consulting services for sales, marketing, and customer success. Global B2B companies work with Corporate Visions to articulate value and promote growth in three ways:
Make Value Situational by distinguishing your commercial programs between customer acquisition, retention, and expansion.
Make Value Specific by creating and delivering customer conversations that communicate concrete value, change behavior, and motivate buying decisions.
Make Value Systematic by equipping your commercial engine to deliver consistent and persistent touches across the entire Customer Deciding Journey.