The Winback step refers to churned subscribers who you are trying to win back - as well as those you already have. A churned subscriber is 3-5 time more likely to create a new subscription than any other potential customer. Churn and reactivation is a natural part of the subscriber lifecycle - so use winback flows to take advantage.
Key Performance Goals
Grow your winback rate
Winbacks lessen the impact of churn in many ways. One is their counter-balancing of subscription churns. Growing this churn:winback ratio is a powerful strategy.
Shorten the winback period
Also focus on the length of time it takes for a subscriber to return. If you can reduce this average by 50-60 days, the payoff is significant.
More organic winbacks
Discounts are a key winback tactic, but organic (non-discounted) winbacks are more profitable. Your winback flow should be measured by the # of these it delivers.
Reason for churn
Voluntary or involuntary? Content, service, or pricing? These distinctions matter greatly to the winback tactics you should use.
How long has the customer been away? What have they missed? Adjusting your message for recent & long-term churners is a good idea.
Previous subscription lifetime
A related attribute is how long this customer was active. There is a huge difference between someone who churned after one month, and someone who churned after six months.
Segment Actions To Use
Customers who churned due to content reasons > 3 months ago
This group liked the idea of your service, but ran out of content that was really relevant to them.
Action: Tease this group with recently added content - but after a reasonable timeframe. They want what you have, they just need more of it.
Customers who churned yesterday due to payment reasons
This group are passive or ‘involuntary’ churners. They usually did not ever make a decison to churn from your service.
Action: The key with this group is to quickly get their attention with a message that ‘Something went wrong!’ You will want to motivate them to act fast.
Customers who have just been won back
Now to the other side of this coin. This is a key point in the relationship; these are customers who just started their 2nd (or higher) subscription with your service.
Action: Welcome these customers back. This is a great opportunity to make them feel like they are a little bit special - like regulars in a favorite restaurant.