Another type of marketing campaign that I would like to discuss briefly is the renewal campaign. It is a process that we run in a situation where our lead is already converted into a regular client/user, cooperates with us and this cooperation is going correctly, but the deadline is approaching for its renewal (which may have several forms, e.g. contract, membership or subscription). Therefore, actions should be taken to start thinking about the extension of this cooperation in your client’s mind, and at the same time to remove the thought of going to the competition.
There is no single recipe for an effective renewal campaign. Many factors influence whether a given campaign will be effective with your type of business. However, there are a few basic rules that will make your success likely.
Renewal campaign prerequisites
Planning a renewal campaign starts with the proper timing in relation to the moment when your cooperation with your client will expire. You cannot start it too early, because the client may have time to forget about the message you have for him, but you also cannot too late, because then it may turn out that the competition has already made its moves or even worse – that the client has made his decision. The time reference is also relevant for the time of day when you will send your message. According to research, in the middle of the day emails are often lost in the flood of other messages, and late afternoons are the time when the open rate is relatively high (over 35%).
Your message matters
The way you present your message to the customer is very important. We’ve already mentioned the basic principles of non-imposing or creating compact content in previous articles. In the case of the renewal campaign, it is particularly important that the message of our email clearly indicates the benefits to the client. What we require from him (a click, payment of subscription, a visit to a branch of the company, etc.) must be associated with benefits, not with obligation and problem. In this way, we will significantly increase the probability of renewal’s success.
You also can’t ignore the style issue. An innovative, interesting design of your email can be as important to the customer as its content. Attract his attention, respect his time, surprise him with something. Make sure that the renewal process itself presents the same high level as your renewal campaign. It cannot take too much time and it must be a pleasant overall experience.
As part of appreciating that the customer has been with you so far, as well as encouraging him to continue cooperation, prepare a special offer for him. Let it be something that will make him feel distinguished. Note: what you prepare should be at an equal or higher level of attractiveness, as your offer for a completely new customer. Nothing is more frustrating than knowing that a newcomer gets better conditions than a loyal and returning one.
We will discuss examples of renewal campaigns in separate articles.