It's never easy when a user downgrades or cancels their account. It’s even more challenging when that user is part of a team or organization that collectively decides to leave your platform.
A winback series offers marketers the chance to engage with lapsed customers. By setting up this automation, you can stay in touch with past users, share new updates, remind them what they’re missing, and incentivize them to return.
While lapsed (or churned) users are no longer active customers, they are much more effective for targeting purposes than brand new customers. In fact, it can cost up to 5 times more to acquire a new customer than to keep an existing one.
This makes sense—someone who has already used and presumably enjoyed your product is much more likely to come back than someone who has never heard of your brand before (and therefore hasn’t established trust).
An effective winback series should start as soon as a customer cancels their subscription. This way, you can reach them while their reasons for cancellation are still top of mind. This gives you the opportunity to address outstanding issues, collect feedback, and remind them of your product’s value.
Your series should have 3-5 emails with a 7-day time delay between each email. Here are a few topics to consider adding to your series:
Using the above guidelines, you can automate an effective winback series that will help you recoup lost revenue. As with all email campaigns, be sure your series has elements of personalization as well as a clear CTA. Also remember to dedicate time to reporting on all relevant metrics (e.g. open rate, reactivation rate, etc.).