There are really 3 reasons (your) customers are leaving (and none of them rely solely on price though many think so). They are pretty simple and straightforward, but course correcting can be like making a u-turn in a semi on a two lane highway.
Reason #1 – The customers weren’t actually “yours” to begin with.
Customers are not a possession. We may think they are. We may wish they were. But in reality, they are their own independent business/person and unless you sell some sort of life-support device, they just may make a decision to go with someone else once the shade of grass on the other side appears a bit more green.
Reason #2 – You aren’t providing value.
They bought from you. So what? The transaction may have been nothing more than an impulse decision. Or more likely, you have a great service or product but lack the demonstration of it’s value. Think “selling a Ferrari to a blind man.” He can neither see the beauty (unfortunately) nor experience the speed (again, unfortunately). So unless vanity of ownership is all that the customer desires, he will soon be gone.
Reason #3 – You rely on what you did, not what you are doing.
Remember that one time when that customer placed that monster order? Ya, that one! Wait, what? That was last year? Yes, you did a wonderful job and made some money. And the customer was satisfied. But that shininess wore off and it’s now just a lump of coal. They are looking for the new thing, and unless you are regularly reminding them of how great you can be on the new thing, someone else will receive that order.
It’s time we (yes, me too) step up our game, shatter (in a good way) client expectations, and run our businesses in ways that others can only dream of! In doing so, (your) customers won’t leave, but beg to buy some more!
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