We have been working with companies’ current and former clients for over 25+ years. What we have found is that all clients are loyal by nature. No one wakes up in the morning and thought, I hope my tailor, car repair, favorite lunch restaurant, etc. makes a big mistake today so I can find a replacement.
In fact, it is the opposite. We are hoping and praying that everything goes smoothly because no one wants to spend his/her little precious free time to find a replacement. Our declining free time works in favor of the incumbent company.
So, why in a given year, does $180 billion move from one business to another? Why do clients leave your business? It is important to know because this very expensive constant client churn cuts directly into your business’ profit.
So why do clients leave? It really is quite simple. 68% of clients leave any business because someone at the company acted indifferently toward them. In essence, they acted in a way that communicated that “I do not care if you stay or leave!”
How would indifference show up in your business? Employees are not accessible? Deadlines missed? Promises not fulfilled? A rushed client service representative? Interrupting a client? Negative client experience?
It is eye-opening to take a deep dive into your (top 20%) current and former clients to uncover the root cause of these reasons that are within your control. Some of the reasons clients leave are outside your control. This usually accounts for 2-4%.
They will be more open and honest with a indeprendent third part than with anyone in your company. We ask in-depth questions, which you approve, to pinpoint why they left or would leave. Be open. Be curious. Be grateful. Profusely thanks them for taking the little free time they have to tell you how you can improve your business.
Satrt next year off with a solid understanding of what needs to happen for your top clients to stay. Contact us!
Many thanks!
My best,
Lynn
Lynn M. Thomas, CEO
Thomas Consulting–
Superglue Experts
32 Holman Road
Newton, MA 02466
781-899-4210
www.Thomasconsultingwins.com
[email protected]
P.S. All our work comes with a 100% - 300% ROI within one year or we will refund your investment!