Follow Up to Retain More Customers
If you ask Steli from Close.io to give you one tip, it’d likely be, “Follow up ’til you die!!” And he’s right, too many people give up early whether they’re sending sales emails, or retention emails.
Our brains tell us that the person we’re working with is no longer interested, they think we are harassing them with too many emails. But it’s rarely the case.
With dunning emails, you can expect a spam rate of well under 0.05%.
We see card updates come in at every stage of our process, and we’ve had to lengthen our recovery funnels to retain a higher percentage of customers.
People have long to-do lists, they go on vacation, they require approval to use the company card, they are waiting on a reissued card, they get distracted… and all they often need is a nudge.
Follow. Up. Relentlessly.
Also...Get on the Phone!
Emails are the bread and butter of your recovery process, but don’t underestimate the power of getting on the phone. Particularly with high-value subscribers. You should absolutely be calling them for card updates.
When you do, keep in mind that it’s rare for people to answer the phone from an unknown number these days, so you’ll be leaving a lot of voicemails. You’ll need a process for leaving effective voicemails and following up several times before you speak with a real human. But don’t stress, it’s totally worth it.
Particularly with B2B, these calls are very helpful for people. Remember, these aren’t collections calls (“you owe us $x”), but rather a chance to show stellar customer service and help them get updated on the spot and keep your service running, while you have a minute of their attention.
In our experience these calls are almost always positive, appreciated, and a chance to stay connected with your highest value customers.
As a business owner, finding opportunities to stay connected at various points in a customers lifecycle is a gift… don’t ignore it!