Reasons Why Businesses Lose Customers

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By Nicola Burt-Skinner
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Expert Author Nicola Burt-Skinner

The following shows why businesses lose customers. By being aware of these reasons a company is able to alter its marketing plan to keep customers and attract new ones.

1% – die

3% – leave the area

4% – naturally float/no loyalty

5% – change due to friend recommendation

9% – find cheaper elsewhere

10% – just like to complain

68% – unhappy with service

The top three reason, businesses can do very little about but the last one, the biggest percentage, is probably the most important figure. At the core of your business is the ability to provide a product/service that makes your customer happy, they will then give repeat business and refer friends (see 4th reason)

So how do you make sure your customers are happy? By providing a service/product they want/need at a price they find acceptable. That’s not to say you have to be the cheapest but you must be able to show the value of the service/product you are offering.

Listen to what your (prospective) customers want.

Check out industry research but also keep an eye on social media outlets such as Twitter or Facebook. What are your customers saying?

Identify what it is they want.

They may not know exactly but by identifying their problem you can come up with a solution.

Anticipate what they might want.

Technology is moving fast. Can you come up with something that will solve a problem that doesn’t yet exist or your customer is not yet aware of?

Appreciate your customers.

Install a loyalty program. Give something back to those that choose you over others.

Explain to your customers

Tell them the problem you can solve and how it will benefit them, the environment or the economy.

Apologize when things go wrong.

Don’t bury your head in the sand. Own up to your mistakes and mostly importantly put them right.

Go above and beyond

Don’t just do what your competitors are doing. do a bit more than that. Can you offer a complementary product to go with your own. What “free” products will enhance yours. Send gifts on birthdays etc.

Get feedback

Don’t just assume because you’ve had no complaints that you’re doing well. Invite feedback to see what is working well and what can be done better. Never stop improving.

Above all, if you’re not bothered about your customers, don’t bother starting a business.

Nicola Burt Skinner owns NBS Admin Assist

http://www.nbsadminassist.co.uk

NBS helps businesses and individuals with all their admin needs, from data entry and copy typing to diary and event management. Whatever you need, whenever you need it. If you hate it, delegate it.



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