In these uncertain times, you can’t afford to lose customers so here’s what you can do about it says Malcolm Gallagher of the BizVision Network.
But first, some research that I recently also chatted about from the BrexFit Bunker on the Get BrexFit podcast episode 75.
The research is from the US Chambers of Commerce and Brooks Group. It’s about customer loyalty. You know how expensive it is to get new customers so you obviously want to retain as many of your existing customers as possible. That may be hard with all the flux caused by uncertainty and the economy.
Here are the figures (see the Brooks Group graphic) why customers may leave you:
68% are upset with the treatment given to them by one of your team
14 % are dissatisfied with your product or service
9% just simply switch to one of your competitors
5% actively seek other alternatives or other relationships – It’s their nature!
3% move away
1% die or close down
Okay, those figures may not be new to some of you but I like what Brooks Group says. And it’s this that is the “nugget of learning” for you!
Based on those average percentages YOU, yes YOU, control 96% of the reasons customers will stop doing business with you. Now that means, likely with some skills training, you can remove most of the risk of customer loss.
And that’s one of the big worries of to-day out of the way for you. Probably not for your competitors because they will likely just follow the usual; bland coaching and training that is around for free.
Tackling the emotional issues around why customers leave is paramount.
So don’t forget you control at least 96% of the reasons why customers will stop doing business with you. Look at the research breakdown and tackle them. If you need any help with this then book one of my 2020 strategy sessions.