Marketing leaders acknowledge that most of the B2B buyers were forced to delay their purchases in 2020, which dramatically affected the clients’ rosters
CMOs say that the B2B landscape projections appear better for the coming year as enterprises are still trying to weather the impact of the initial economic damage and are still identifying new prospects for their sales pipelines. The saving grace is that former clients can still be a source of continued business deals. If organizations manage to win them back, they will be in an improved position in 2021.
This is beneficial for organizations as such clients are already aware of the processes, so recovering them is like restarting an existing investment. Wooing back lost business and nurturing disappeared clients can be done after careful analysis.
Identifying the reason why the client left the partnership
CMOs say that the pandemic was merely a catalyst for business loss, and it is possible that other elements would have also pushed it to that point. It is essential to reflect on previous partnerships to get to the true cause of this.
Analyze if previous clients had expressed concerns regarding the service at 2019 end. In such situations, trying to reengage with them will not be a good plan. But if their exit had nothing to do with the performance of the organization, they are highly likely to return.
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Marketing leaders suggest giving a quiet period of at least one month before interacting with them again. It is critical to be respectful of the timelines and not come across as pushy. It would be well thought to set a reminder to check every quarter. When B2B buyers are given their required space, they understand that the organization cares about the individual businesses.
Being Respectful of the situations
Even big organizations are recovering, and the buying budgets have been cut down significantly. CMOs believe that empathy is an important emotion when dealing with former B2B buyers.
It’s important to identify solutions to their concerns and a reduced price packages would be a good strategy to recover Business or clients if they left because of pricing issues. Flexibility on service costs and terms allows clients to continue seeing ROI and creates use cases for sales teams to quote when interacting with relevant prospects. It is vital to keep former clients in the know about newer opportunities to let them know that the brand would like them back.
Develop a re-engagement strategy to recover churned clients
Marketing leaders believe that often a digital nudge will be enough to re-engage lost businesses. Marketing teams must consider it as a team activity. Discussion of ideas with potential talking points and team connections is necessary. Creation of a task list regarding which clients are needed to be back on the client list, to boost the business of the organization and also which team member is responsible for reaching out to which former client, is a great idea.
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Omnichannel touch points should be a critical element in the re-engagement strategy. Creation of personalized email campaigns that features targeted incentives and then display the bottom of the funnel content of social media platforms should be a help. Testimonials, whitepapers, case studies, etc., will show former clients what advantages they are missing out on. When blended, such touch points will help revive former client relationships.
