Signing a new customer always brings in an adrenaline rush and the possibility of lifelong profits. However, losing a customer can be devastating, not only have you lost a relationship, but the loss also impacts your bottom-line. Here are 3 common reasons why customers switch loyalties.
THEIR NEEDS CHANGEDSometimes, a customer's needs change. Perhaps their company has gone in a different direction and no longer needs your services. For example, maybe they were engaged in ecommerce and used your fulfillment services, but have decided to shut that down and focus only on in-store retail. In such instances, there is not much you can do. In other cases, they may have outgrown your product or service, or may not be getting the optimum benefit from it. You need to have your pulse on the customer's business, it's changing nature and understand their needs as they evolve. If you can get your products and services to adapt with the customer, then you will not have to worry about losing out. The key is to stay connected with them.
YOUR STANDARDS DROPPEDAnother reason customers stray is because they are just plain unhappy with your product or service. Be sure to keep everything consistent, from the service itself to the packaging, communications and messages. If you are not giving them top-notch service and quality, they do not have a reason to do business with you.
THEY RECEIVED POOR SERVICEBad service is a complete no-no. Your customer has invested in your product/service, so they deserve good post-sale service and assistance. If they need help with their purchase, you should be able to give it to them. If they prefer their communications a certain way or are only free to talk on a particular day of the week, stick to it. To understand the needs of your customers, any problems they may be facing and to keep the relationship going, you need solid communication. Salesvue does that for you. Salesvue helps you understand and uncover the patterns and preferences of your customers, so you are able to give them great service and anticipate their needs. Automated follow-ups ensure that a loyal customer does not go for long without a communication from your side, and our detailed reporting can alert you in case a sales rep seems to be veering off track with a customer- so you can step in and do the right thing.
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