win back your lost customers
Whether supply chain issues, service failures, or a lower price pushed your lost customers to find another solution, those formerly loyal buyers represent an enticing opportunity to recoup lost revenue.
But it’s not an easy conversation to have. In fact, 80 percent of companies believe that winning back a lost customer is as difficult or more difficult than acquiring a new customer.
Why? Are former customers somehow biased against your solution? Or are sellers simply using the wrong approach to address these buyers’ unique motivations?
In a new real-world behavioral study from B2B DecisionLabs and Dr. Leff Bonney of Florida State University Sales Institute, over 300 B2B sellers approached their lost customers using one of several types of win-back messages.
In this research report based on the results, you’ll discover:
- How your former customers frame value and make decisions.
- Whether the reason they left affects their decision to return.
- What type of messages are most effective for winning back lost customers.