💡 The idea behind a Winback Flow is pretty simple: get customers who already bought from you once to make a second purchase.
Let me tell you if you don’t have a Winback Flow right now you are losing on a lot of potential revenue.
We have already implemented this Flow for our clients and the results speak for themselves.
Let’s share some numbers:
*These are general retail trends of 2019*
- Acquiring a new customer can cost five times more than retaining an existing customer. 😲
- Increasing customer retention by 5% can increase profits from 25-95%. 🤑
- The success rate of selling to a customer you already have is 60-70%, while the success rate of selling to a new customer is 5-20%. 🤔
- Repeat customers spend 33 percent more than new customers. 💸
We all know how expensive are Facebook ads, so if you can sell to a customer that you already acquired you can really increase your profit margins.
But let’s dive in the practical advice on how to make the perfect Winback Flow:
📜 As a rule of thumb across all e-commerce, If someone doesn’t make a second purchase after 60 days, they are pretty much lost. So you want to save that sale.
👉 When someone places an order we include them in the Winback Flow only if they haven’t placed an order in the last 60 days.
🔍 Basically, they have been getting the campaigns that we send to our list and they have been getting the post-purchase sequence. They got all that good stuff and they still didn’t make a second purchase in the last 60 days.
🌱 By now we already nurtured them with content and great value. They already have a feel of our company and our mission, now they only need to be pushed a bit to buy again.
🚀 That’s why we put them in a discount ladder. So, basically, it’s a Winback campaign combined with a discount ladder. This results in significant profits.
The Winback Flow structure:
Email #1: 20% off Offer – (60 Days after the first purchase)
The discount can vary. But you want to give an incentive to make that purchase.
Email #2: 20% off Last Chance – (62 Days after the first purchase)
This will be sent to people that didn’t buy from Email #1. Add some scarcity and say that’s the last chance to use the discount.
Email #3: 30% off Offer – (90 Days after the first purchase)
We give a bigger discount to people that didn’t buy from Email #1 and #2. So the discount ladder is complete.
And notice that this is all revenue that would have been lost If I didn’t implement the Winback Flow.
Tips that will help:
- Always use deadlines ⌚
- Ask for the sale 🎤
If you don’t ask people to buy, they won’t buy. You have to offer a discount and you have to say: “Check this out. I want you to purchase from me. We got the best product.” You need to tell why they have to buy from you and you have to ask for that sale.
Hope this was helpful. If you implement this simple flow you will see a significant increase in your profits $$$.
Ettore Bellò, Hustler Marketing