Winbacks : Market Research Report

Winbacks

Published by: Datamonitor

Published: Jun. 9, 2003 - 27 Pages

INTRODUCTION

What is a winback strategy?

THE BENEFITS OF A WINBACK STRATEGY

Latent loyalty or a bad experience? Are new suppliers not getting it right first time?

Timing is important

IMPLEMENTING A WINBACK STRATEGY

Tactical awareness

SSE - market leader - forefront of customer acquistion startegy

Other examples

…balancing customer losses…

…M&A haemorraghing…

…market specific…

Where are we?

MARKET POTENTIAL

UK

European predictions

Germany

Sweden

Spain

FUTURE DEVELOPMENTS

Targeting customers

Winback strategies a supplier can adopt

Lifecycle of winbacks

APPENDIX

Supplementary data

Future readings

SPP writing team

List of Tables

Table 1: Forecasts for customer switching 2002-2007 - UK, Germany, Sweden and Spain

List of Figures

Figure 1: Triggers that win customers back (winback)

Figure 2: Development of winback strategy over time

Figure 3: UK Electricity winback forecasts 2002-2007

Figure 4: Percentage of winback acquisitions for UK, Germany, Sweden and Spain, 2002-2007

Figure 5: Germany, Sweden, Spain - Winback forecasts for electricity 2002- 2007

Figure 6: Supplier survey of weighting of sales channels for winbacks

Abstract

Introduction:
UK suppliers have been focusing on winning former customers back, capitalizing on new suppliers’ poor service and failure to realize the savings promised. In doing so, suppliers are benefiting from the lower acquisition costs and the affinity to their former supplier.

Scope:
* Assessment of benefits of adopting a winback strategy for European Utility suppliers

* Winback switching forecasts 2003-2007 for UK, Germany, Sweden and Spain

* Recommendations for maximising the implementation of a winback strategy

* Targeted survey of leading European Strategy Managers

Report Highlights:
The suppliers surveyed who have adopted a winback strategy had seen an increase in acquisition rates, reaching as high as 40% for some suppliers.The two leading triggers that suppliers state win customers back are prior customer service experience and price savings

In cumulative terms, the number of UK customers who will return to their former supplier in almost ten years of competition will hit 6.7m. By 2007 a recovery in the winback strategy is expected to result in 7% of all switchers being won back compared to the 3% expected in 2003 for the German market.

The issue suppliers face is not if but when and how much weighting should they provide in supporting a winback strategy. To implement a winback strategy, companies will have to adopt the three staged strategy: Ad hoc campaign; Cost-led winback; Value led winback

Reasons to Purchase:
* Understand the necessary implementation of a winback strategy

* Learn from suppliers who are actively seeking customer winbacks

* From forecasted rates of customer winbacks allow first pass estimates for allocation of resources to acquisition channels and strategies

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Winbacks

Table of Contents

Abstract