5 Reasons why Customers Leave your Business and Tips to Retain Them
It is indeed an alarming signal if your valuable clients are leaving you. Read more on why exactly your customers are leaving you
5 min read
Businesses flourish and drive on the path to success when they have a good backing of happy customers. In every business, earning a customer’s trust and loyalty is a challenge which requires good planning and investment of time and money. If you are losing the number of your valuable clients, it is an alarming signal. There can be many factors that might be causing the loss of your clientele.
Customers are picky, who get influenced with good offers or service from your competitors. They are easy to lose, but hard to win, and more importantly, retain them for the long run. According to the study by CustomersThatStick, 82% of customers in the US stopped doing business with a company due to the poor customer experience. For a business, losing a chain of customers is supposedly equal to bringing down the revenue.
It is obvious that once your business starts losing customers, these questions certainly keep uprooting:
- Why is my customer leaving for competitors?
- Why are they not satisfied?
- How should I bring them or retain them for the long-term?
To make you get answers to the above questions, let us first check 5 reasons why customers leave your business.
- Lack of personal connection:
Research shows that customers who moved whining out of your office are actually dissatisfied with the way they were treated. Maybe one of your employees took the customer too casually. Customers love staying with the business that offers personal connection and involvement in every bit of service. Rude customer service executive, delay in giving attention and wrong approach are some of the reasons that can lead to customer leaving your business.
- Found a better Deal:
Let’s face it; a single dollar is important for you but it is even more important for your customer. Everyone knows that a cheap and promising deal is always preferred. And if your competitor throws the right card at the right moment, there’s nothing much left to be done by you. The best example is the e-commerce sector where there are hundreds of options available for customers to buy products. The usual process followed by customers is the price, product quality, and reviews from other customers. If they find some better deals like the discount coupon, they won’t think twice before switching.
- Lack of Convenience:
If your business is completely online, then you need to understand that it is not enough to sell products or services to the customer, convenience does matter. Every business including brick-and-mortar stores is now competing with online e-commerce stores. Convenience blended with quality products and service will certainly help to retain customers for longer period.
- Consistency with deals:
Many business owners are unable to take care of customer requirements regularly because of their busy schedule. This calls for a proper management system. You should be well coordinated with your staff, so you get across the deals timely. Although personally checking the meetings and deals with important clients is a must. Carrying the service with consistency for the long term will help to retain customers.
Also, try to put something unique in your deals every time. You will fetch an extra benefit if you are able to add some features that do not have many alternatives in the market.
- Leapfrog customers:
It’s definitely your business where you should first look for loopholes, but at times, it may not really be the business’ fault. There is always a bunch of consumers in the market who like to jump door to door in search of better. They look for the finest crack in your process and when they find one, they will jump out quietly.
All you can do is to wait patiently. If you were right, honest, and best in the business consistently they will be bound to come back. Be polite with them and note them as your business well-wisher. If you manage to pull them out from the crisis, they will talk positively for you and your business in the market and be your active advertiser.
Apart from these 5 reasons, one of the common reasons why customers leave your business is because of the long wait in the store. This is especially applicable offline stores where customers find it frustrating to stand in long queues to complete the billing process. According to research, 86% of customers abandon stores that are known to have the reputation of long queues. This way you are leaving customers, and the reason for this loss is not updating the store with automated queue management. There are waiting for line management systems like the Qminder, which is designed to bring down the queue problem in the store.
How to maintain good customer relations
Image source- Dreamstime.com
If you know about the loopholes in your business, you can easily amend them and continue a successful business with happy customers. Some of the ideas that will keep your customers satisfied are:
- Satisfactory customer service:
The customer service department is one of the most ignored departments in any business. As a matter of fact, it is the most important one. Make sure that your customer support department has people who have maximum knowledge about your business firm. These people should have good communication skills and should be well trained to handle customers.
- Multi-channel support:
Try that your customers can reach you by several means of communication. Email and phone call are the top methods but not the best ones. If you have an online business website, add a 24*7 available live chat support column for the customers. Also try to resolve your clients complain on social media platforms and via SMS.
- Customizing your Service:
Service customization is one of the ways to improve your customer relationship. Moreover, customizing your sales method that matches with the customers’ requirement is the best thing you can follow. One-on-one interaction, personalized service, and quality product are three important factors to consider.
- Acknowledge your Customers:
Every customer loves to get appreciated and acknowledged; your business can acknowledge customers in the form of discounts and gifts. Business can also conduct relevant events, annuals gifts and thank you notes or emails. When the customer gets acknowledged, they tend to stay with the business and forgive for any bad service received in the past. An acknowledged customer is a loyal customer, and for the business, it can be a blessing.
- Resolve the Issues:
There are chances that customers may face issues in terms of service or product. Some customer sales executives have the tendency to shift the blame on customers, which can create further conflict. To resolve such issues, it is better accept the ownership of the problem and bring the customer into confidence of quality service in long run.
- Get Regular Feedback from Customers:
This is certainly the best way to retain customers and their confidence in the business. Asking feedback after every service delivery is an ideal way to show that you are purely engaged with your business. There are many ways of asking for feedback like through emails, feedback calls, and ratings. This will not only help in retaining customers but also improve the customer service.
- Constant Communication:
This means that you stay connected with customers through the newsletter, event invitation and other ways. Customers want to stay updated on new products arrival and discounts. Constant communication will also help to know what customers want from your business.
If you are losing the number of your valuable clients, it’s time to raise an alarm. There can be many factors that might be causing the loss of your client link. These factors should be worked upon to retain customers and their confidence on the business.
Now that you are aware of your mistakes, read up on how to excel in brand engagement
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