This video is called, Are you Giving Lapsed Customers Enough Attention? By Mike Pitt. If you want to subscribe to our YouTube channel, you can . Mike Pitt is the Founder of Marketing Fundamentals Ltd, a B2B Content Marketing Agency in London.
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In this video, Mike Pitt discusses, Are you Giving Lapsed Customers Enough Attention? This video will be of interest to business owners, B2B marketing managers, Content Marketing professionals, Social Media Managers and others who use Social Media to promote their businesses.
Lapsed Customers
Many B2B businesses place a lot of emphasis on the need for new customer acquisition and create marketing activity specifically designed to bring new customers into the sales funnel. Although this focus is understandable the result is that not enough attention is given to lapsed customers; acquiring new customers is more expensive than re-establishing a relationship with a lapsed customer.
In this video, I read a quote from the Harvard Business Review about the comparative cost of new customers versus lapsed customers.
Contacting Lapsed Customers
Lapsed customers already have a relationship and a financial history of working with you. If your working relationship ended on good terms, it is not very difficult to re-start working with them. You just need the right opportunity and communications piece. They are a much easier target than someone who has never heard of you or has no idea of your business’s reputation.
In this video, I discuss ten opportunities to contact lapsed customers, watch the video to discover each one and then start to plan how these can be applied to your business.
Take Action
Do you have marketing activities designed to re-connect with lapsed customers? If so, how effective have these activities been? Let me know that in the comments section below.
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B2B Content Marketing Agency London
Marketing Fundamentals Ltd is a B2B Content Marketing Agency in London that creates Content and manages Social Media for Professional Services firms. We hope you find this information useful.
If you would like our help creating and executing a Content Marketing Plan for your business or organisation give us a call on +44 (0) 845 2264 247. You can also email us via mail@marketingfundamentals.com
On our YouTube channel you will find marketing advice, business advice & inspiration. Subscribe if you work in Marketing for Professional Services or are a business owner or solo-preneur trying to grow your business. New uploads on Tuesdays and Fridays.
Best regards,
Mike Pitt
Founder, Marketing Fundamentals Ltd
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