Glossary: Winback

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Winback

Winback - an expression used by businesses to try and regain a customer who has defected to a rival.

If you have recently cut up your credit card, or moved over to another phone or insurance provider, then you may get a call or a letter from them offering you a special incentive to go back to them.

Reasons for leaving

Always remember what your reasons were for leaving – were you upset with poor service, or did you just get a cheaper deal from someone else? If you are being offered a price match deal, or other financial incentive, make sure you find out the full details:

• If it is genuinely a better deal, find out how long it will last for, and ask why you are only being offered it now? Make sure that you will not pay any cancellation charges from your new provider.
• If you left because of poor service standards, then it would be unwise to move back to your old provider unless they can offer some solid reassurance that they have taken steps to improve, and that you can verify this from an independent source.
• Do not feel forced to accept any winback offer on the spot, especially for utility bills. If you usually discuss financial matters with your partner before making a decision, then make sure you do the same thing, rather than being forced to make a rush decision on the phone.