DIRECT MAIL / DIRECT MARKETING / CREATIVE CONCEPT / PRINT PRODUCTION / MARKETING STRATEGY
New business growth had plateaued, putting even more pressure on retaining existing business. It was therefore imperative to re-connect Skillsoft with their top ten ‘at risk’ customers, whose accounts were due to expire. Improving contract renewal rates and reducing churn were vital.
Such a crucial challenge required a provocative and unforgettable piece of direct mail. The letter was escalated internally from Skillsoft’s usual Sales/Learning Consultant contact and was sent personally by the Regional Director, to add gravitas. Received by all stakeholders, the DM consisted of a personalised letter that was crumpled up and suspended in a clear Perspex box, compelling the recipient to open and read it.
The crumpled paper visually conveyed the idea of waste, whilst the tone of the copy was designed to create ‘constructive tension’ by emphasising the client’s wasted investment with Skillsoft and challenging them to fix it. The Regional Director would then personally follow up over the next 2 weeks with plain text emails and phone calls to try to establish contact.
The outcome was exceptional. Nine of the ten companies responded to the campaign, and in some instances more than one stakeholder requested a meeting to discuss. Six accounts renewed in 2014, with one account signing a new 4-year contract early. The combined renewal value was £503,285. With a budget of just £10,000, that means the campaign delivered over 5,000% ROI. Outstanding.
The combined renewal value was £503,285. With a budget of just £10,000, that means the campaign delivered over 5,000% ROI.
Client retention is a real challenge for us right now. As a global company we have a US based loyalty team who usually handle this type of activity but we knew, with new business on the decline, that we needed to up our game and take control of this ourselves. We are thrilled with the campaign and the very real return it has delivered us. It was easy to grasp and implement but the focus and support on the follow up was a real clincher for us. We now have a proven formula to help with client retention and we expect this activity to become embedded in our client communications.
Sarah Jones, Marketing Manager, Skillsoft EMEA