lapsed customers Archives - Marketing Fundamentals

Are you Giving Lapsed Customers Enough Attention?

Mike Pitt — Thu, 09 Apr 2020 07:21:26 +0000

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.

If you’ve liked this post you will also like the following posts:

LinkedIn: Advice for B2B Businesses Playlist

How to Increase LinkedIn Company Page Followers

Why I Stopped Using LinkedIn Sales Navigator

LinkedIn: Company Page Followers No Longer Viewable

How I Follow Up With LinkedIn Searchers

LinkedIn: How to Approach Leads the Right Way

Is Steemit Dead?

How to use Telegram for New Business – Part 1

LinkedIn: Inside an Engagement Pod – Part 1.

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LinkedIn: Advice For B2B Businesses – Playlist

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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This is video number 346 and blog post number 554

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Entrepreneurs – Do you have these 12 great marketing habits?

Mike Pitt — Tue, 16 Jul 2013 16:33:07 +0000

A habit is defined as –

‘A tendency or disposition to act in a particular way.’

All business owners and entrepreneurs need to create good habits for themselves and their staff to build business growth. Practising these habits regularly will help you develop great marketing techniques. It is by working through the details week in and week out that you will lay the foundation for a successful future for your company.

Have a look at the list below and let us know how many of these habits you have already and what you need to work on.

12 Awesome Marketing Techniques for Successful Entrepreneurs

1. Marketing planning and adapting / updating your plan

2. Active sales pipeline spreadsheet and communications strategy

3. Existing customers strategy and communications

4. Partnership building and collaboration

5. Effective social media engagement – content marketing and right platforms for your customers and prospects

6. Assess product and service offering – Look for opportunities to innovate

7. Every day business development activity

8. Regular networking and post event evaluation

9. Regular evaluation of all key marketing metrics

10. Calculation of cost of acquisition per customer & assessment of retention and churn rates

11. Email list building and communications plan

12 . Consciously planning to be different to your competitors

Do you need help creating new marketing habits for your company? We can create them for you and teach you how to implement it. Feel free to give us a call on +44 (0) 845 2264 247 or drop us an email via mail@marketingfundamentals.com – We look forward to hearing from you.

We hope you have found this information useful.

Best regards,

Marketing Fundamentals Team

The post Entrepreneurs – Do you have these 12 great marketing habits? appeared first on Marketing Fundamentals.

What is Content Marketing achieving for our clients? One recent success story

Mike Pitt — Tue, 30 Apr 2013 05:50:08 +0000

This week’s post enables us to achieve two of our objectives with our blog – to demonstrate how content marketing works and to put some of our clients in the spotlight. One such client is Cloud Knowledge Base – Cloud Knowledge Base helps businesses become more resourceful by migrating to the Cloud.

We have been creating content for them, distributing via relevant social media platforms and consulting on overall marketing strategy.

Last Friday (April 26th) Cloud Knowledge Base were awarded Best Stand at the Richmond Business Expo but more significantly they were able to generate over 150 qualified new business leads which is absolutely phenomenal.

How did content marketing help them achieve this level of success?

1. Pre announced their appearance at the event as an exhibitor

2. Established their authority in the Cloud solutions sector

3. Delivered a specific time sensitive call to action.

4. Started conversations that were continued at the event.

5. A great stand, excellent promo team and cupcakes also contributed to their success.

Are you keen to find out what content marketing can achieve for your business? If so, feel free to give us a call on +44 (0) 845 226247 or drop us an email via mail@marketingfundamentals.com – We look forward to hearing from you.

We hope you have found this information useful.

Best regards,

Marketing Fundamentals Team

The post What is Content Marketing achieving for our clients? One recent success story appeared first on Marketing Fundamentals.

Entrepreneurial shepherds required – How well are you tending your flock?

Mike Pitt — Thu, 06 Dec 2012 15:53:56 +0000

At this time of year it is customary to think of the original Christmas story and I am not alluding to reports that retailers are hoping for a bumper Christmas in order to avoid the threat of a ‘triple dip’ recession. You will recall that Shepherds were central to the original Christmas story but prior to that their primary role was to look after their flock. The role of shepherds is analogous to that of entrepreneurs and business owners. It’s a helpful analogy because the constant care that shepherds provide for their flock is similar to the constant customer focus that most successful companies have. So how well are you are tending your flock? Below are 4 responsibilities of shepherds that apply to your business.

1. Anticipate the needs of their flock – What have you done to anticipate the needs of your customers during next year? Each year brings with it new challenges and ongoing market research will give you an insight into what any new needs are likely to be. Speak to your customers; use feedback forms and live chat.

2. Meet essential need of their flock – How well did you attend to your customers’ day to day needs during 2012? How are you going to improve on this for next year?

3. Leading them and teaching them to stay together – What are you doing to provide leadership for your customers? What new products or services will you be introducing? Will you be taking them in a different direction?

4. Going off after the wandering lost ones – What concerted efforts are you making to contact lost or lapsed customers? Remember it’s more cost effective to revive a lapsed customer than it is to recruit a new one. Click here for ‘SME Owners – Gone but not forgotten – 10 successful techniques for contacting lapsed customers’

If you would like our help tending to your flock give us a call on +44 845 226 4247 or email us via mail@marketingfundamentals.com and we will be happy to help. We hope that you have a wonderful Christmas and that you find this information useful.

Kindest regards,

Marketing Fundamentals Team

The post Entrepreneurial shepherds required – How well are you tending your flock? appeared first on Marketing Fundamentals.

SME Owners – Gone but not forgotten – 10 successful techniques for contacting lapsed customers

Mike Pitt — Sun, 05 Jun 2011 17:15:09 +0000

Many businesses spend more time and money chasing new customers than they do maintaining existing customers or reviving recently lapsed customers. According to the Harvard Business Review, “acquiring a new customer is anywhere from five, to 25 times more expensive than retaining an existing one.”

The pursuit of sales from new customers is actually more expensive in Cost Per Acquisition (CPA) terms than these other two segments (current customers and recently lapsed) – therefore there is a very clear financial rationale for contacting lapsed customers.

Contacting Lapsed Customers

Below are 10 successful techniques for contacting lapsed customers that will help you grow your business.

1. Contact them when you have a new service to offer them.

2. Contact them when you have completed a flagship project.

3. Use the seasonal calendar to create promotions; Christmas, Easter, Back to school etc and communicate these to lapsed customers.

4. Purchase history – recommend another of your products or services relevant to their last purchase. Amazon do this every day.

5. Referral discount – offer them a referral discount for their next purchase if a new customer quotes them as the origin of sale – typically the ‘where did you hear about us?’ question.

6. Send them exclusive articles on your niche/ specialist area and other added value information.

7. Offer a financial incentive (usually a % discount) specifically for past customers with a time limit.

8. Conduct catch up calls – ask for customer service feedback, find out what changed and assess their future needs.

9. Send them a ‘thank you for your business’ note.

10. Send them your corporate newsletter with a clear and strong call to action.

Take Action

We hope you found this information useful and of course, we would be happy to craft any of these communications pieces for you.

How much focus do you give to lapsed customers? What success have you had in that area? Let me know in the comments section below.

If you’ve liked this post you will also like the following posts:

LinkedIn Messaging: How to be More Effective – Part 1

How to Increase LinkedIn Company Page Followers

Why I Stopped Using LinkedIn Sales Navigator

LinkedIn: Company Page Followers No Longer Viewable

How I Follow Up With LinkedIn Searchers

LinkedIn: How to Approach Leads the Right Way

Is Steemit Dead?

How to use Telegram for New Business – Part 1

LinkedIn: Inside an Engagement Pod – Part 1.

LinkedIn Storytelling: How to Tell Stories on LinkedIn

My Most Viewed Post on LinkedIn

LinkedIn: Advice For B2B Businesses – Playlist

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.

Best regards,

Mike Pitt

Founder, Marketing Fundamentals Ltd

Follow Mike on Twitter

Subscribe to

Web Hosting Special Offer

The post SME Owners – Gone but not forgotten – 10 successful techniques for contacting lapsed customers appeared first on Marketing Fundamentals.