Customer Winback How to Recapture Lost

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.

JILL GRIFFIN is president of The Griffin Group, an Austin, Texas, firm providing customer and staff loyalty research, keynote speaking, and loyalty and win-back program consulting. Her clients include Microsoft, Ford, Arthur Andersen, Hewlett-Packard, Marriott Hotels, and Advanced Micro Devices. Griffin is the author of the business best-seller Customer Loyalty: How to Earn It, How to Keep It (Jossey-Bass, 1997). MICHAEL LOWENSTEIN CPCM, is managing director of Customer Retention Associates, a customer and staff loyalty program development, research, and training firm located in Collingswood, New Jersey. His clients include Toyota, Prudential, Sygma, Westvaco, Charles Schwab, and Microsoft. Lowenstein is the author of two books, including The Customer Loyalty Pyramid (Quorum, 1997).

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

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

Summary

Author Biography

Table of Contents

Supplemental Materials