According to a report by the Harvard Business School, on average, increasing your customer retention by just 5% can increase profits by as much as 25%–95%. Engaging your customers frequently and effectively has never been more essential than it is now. Here are three key things to think about as you engage and re-engage your customers

Timing Matters

The timing of your re-engagement campaign matters. For best results, a re-engagement campaign should run within 30, 60, or 90 days from the initial customer engagement. Wait longer, and you risk making your customers feel like an afterthought. If you’re reaching out via email, make sure to avoid sending customers a deluge of emails. Instead, track their engagement, and slow down your frequency when their engagement flags.

Make an Offer They Can’t Refuse

When a customer cancels your service or when their engagement in your business flags noticeably, a tried and true strategy is to make them an offer they can’t refuse — maybe that means a discounted annual subscription, maybe it means running a flash sale. But whatever the expression, make sure you track the long-term impact of your re-engagement campaign on the bottom line of your business. Offer too steep a discount and you risk offering your product at an unprofitable price. What’s more, customers who re-engage thanks to a cheap price tend to be some of the least loyal over the long term, so make sure your offer makes sense to your bottom dollar.

Ask Them Why They Left

If a customer wants to stop doing business with you, understanding why they lost interest is foundational to growing your business in the future. Gather as much data as you can about these customers. That way, when you’re ready to target them with a re-engagement campaign, the content you offer can be tailored just to them.

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