It is up to 50% easier to sell to existing customers than to win new customers. A 5% increase in customer retention can increase a company’s profitability by 25%, or more – sometimes up to 95%.
In the world of retail, the ‘win-back’ campaign is a staple for almost every marketing team. But it’s not as common in travel retailing businesses such as airlines, OTA’s and loyalty brands. However some airlines like Easyjet have recognised this opportunity.
What is the best way to approach a win-back campaign in travel?
- The three requirements for a win-back campaign
- How to identify the win-back customers
- Using machine learning for micro-segmentation and personalised messaging
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