According to a survey by econsultancy.com, 70% of businesses say that it costs significantly less to retain a customer than to acquire one. Research by Invesp confirms this, saying it costs 5 times as much to acquire a new customer than to keep one.
And so, without closing up their pipeline, businesses wisely focus on serving and cultivating their existing roster. It’s not just good customer service (which of course is always a priority), but it’s great for the bottom-line as well.
Getting In Front of a "Lapsed" Customer
However, there’s a type of customer that isn’t really a customer anymore – they’re best described as a lapsed customer. These are individuals or businesses that have made a purchase fairly recently (i.e. within a year), but have fallen off the radar screen. Yet at the same time, there is no discernable reason why they’ve disappeared, or where they’ve gone.
The good news is that most of these lapsed customers can be re-activated and brought back into the fold – and that’s where inbound marketing enters the picture.
How Inbound Marketing Re-Activates Lapsed Customers
Inbound marketing is ideal for re-activating lapsed customers, because the primary function of inbound marketing is NOT to sell: it’s to educate, influence and nurture a mutually beneficial relationship.
Types of Inbound Marketing Assets
So in light of the above, what kinds of inbound marketing tools and assets work best for re-activating lapsed customers? Without drilling down into specifics – because every business and marketplace has its own dynamics – generally speaking, here are some effective ideas:
- eBooks that target issues that are relevant to lapsed customers (e.g. how to reduce costs, lower risks, increase quality, etc.).
- Tools, such as checklists, online calculators, widgets, apps, etc., that lapsed customers can start using immediately.
- Infographics that lapsed customers will find relevant and will want to share with their network.
- Newsletters that feature industry news, trends and other developments (i.e. not content that is product/offering specific).
Ultimately, the goal here is to use inbound marketing tools and assets to re-ignite the relationship; even if it means that the lapsed customer doesn’t buy anything in the foreseeable future. These individuals may influence others to make a purchase, and can be just as valuable – and perhaps more – in that capacity.
Learn More
To learn more about how inbound marketing engages your current customers and helps re-activate your lapsed customers, contact the experts at Leap Clixx today. We’ll provide you with a free, no obligation consultation that will clearly point you in the right direction – which is the one headed towards more customers, more sales, more profits, and more long-term growth and success!
Check out our free eBook to learn more about what best practices you should be implementing:
Topics: Inbound Marketing
