Customer Winback: How to Recapture Lost Customers--And Keep Them Loyal / Edition 1by Jill Griffin, Michael W. Lowenstein
Pub. Date: 03/01/2001
Most firms consider the lost customer a lost cause. In this ground-breaking book, Jill Griffin and Michael Lowenstein dispel the myth and prove that winning back lost customers can be a rich source of renewed revenue and customer loyalty for any firm. With the average company losing 20 to 40 percent of its customers every year (for Web-based companies, defection… See more details below
Most firms consider the lost customer a lost cause. In this ground-breaking book, Jill Griffin and Michael Lowenstein dispel the myth and prove that winning back lost customers can be a rich source of renewed revenue and customer loyalty for any firm. With the average company losing 20 to 40 percent of its customers every year (for Web-based companies, defection rates are substantially higher), it is imperative that firms create hard-working strategies, not only for acquisition and retention but also for win-back. Griffin and 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. The authors offer proven strategies for recognizing which lost customers have the highest win-back value and implementing a sure-fire plan to recover them. Whether your business is small or large, product- or service-based, retail or wholesale, your success depends on keeping high-value customers. Customer WinBack shares the techniques of hundreds of innovative companies, from e-commerce start-ups to corporations such as U.S. Cellular, MCI, Doubleday Direct, and First Union who are already working to recapture lost customers and keep them loyal. In today's hyper-competitive marketplace, no customer retention program can be 100 percent foolproof. With this landmark book, Griffin and Lowenstein blaze a fresh, new trail and show you how to win back those lost customers you simply can't afford to let go. The Authors 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).
Table of Contents
CUSTOMER RECOVERY: WINNING BACK LOST CUSTOMERS.
Why Aggressive Customer Recovery is Critical to Your Success.
A Closer Look at Customer Loss.
Making New Customers Defection Proof.@Preventing Loss When the Honeymoon is Over.
Early Intervention for Rocky Relationships. Saving Customers On the Brink of Defection.
Recovering Lost Customers.
CUSTOMER PROCOVERY: KEEPING REACTIVATED CUSTOMERS AND MINIMIZING DEFECTIONS.
Practicing Procovery: Why Recovery is Not Enough.
Happy Employees Equal Loyal Customers.
Complaints: Your Number One Customer Procovery Weapon.
The Real Role of Service in Customer Recovery.
Making Your Company Defection Proof.
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This is an unprecedented time of customer turnover for companies around the world. We've entered a new era of defection where customer churn is reaching epidemic proportions both on-line and off-line, and it is wrecking businesses and lives along the way. Most companies, focused entirely on customer acquisition and retention, have neglected this important revenue and CRM opportunity. In this book, my colleague Jill Griffin and I present the causes of customer loss and the most successful methods of customer save and recovery learned from companies around the world. Using reader-friendly stories, examples, and graphics, we provide a strategic and tactical framework for any company to win back the customers they want.