5 Guaranteed Ways to Lose a Customer
Most small businesses spend lots of money focusing primarily on getting new customers.
You don’t have to spend time and resources finding new clients, just keep the ones you have happy and coming back.
Research shows acquiring a new customer on average is 10 times MORE expensive than keeping an existing one
If you’re losing loyal customers, and they are not coming back, I can pretty much guarantee you’re making one of these key mistakes.
5 Guaranteed Ways to Lose a Customer:
Your long-term loyal customers are not only your most profitable, but they are also the ones who keep coming back and require the least amount of marketing and sales efforts.
1. High-employee turnover
Customers don’t buy from businesses…they buy from people they know, like and trust. And, guess what? That means your employees.
Relationships are the life-line of every small business. Therefore, it’s important that you keep your employees happy, so they in turn keep your customers happy. Do everything possible to protect the relationships your employees form with clients.
2. Only rewarding new customers
Many small businesses offer discounts or incentives to new customers only. This can cause resentment from existing customers who feel their loyalty is overlooked and not rewarded.
Spend time creating equal rewards for your loyal customers, so they remain happy and satisfied.
3. Too much focus on price
We as small business owners are so much more than what we charge. And, if you focus solely on price, somewhere down the line your competitor will offer it cheaper and you’ll lose customers through lower prices.
Instead, your goal is to focus on value. Value is an advantage you can maintain. Value may be in terms of extended hours of operations, live customer service and more. Remember, it’s a “great price” if the perceived value is greater than the cost.
4. Overselling customers
Upselling existing customers is great, but do so wisely. Get to know your customers and their specific needs. Never suggest a product or service they don’t need.
Instead, learn about their current and future goals, so you can recommend products and services today that can help them with future needs.
5. Forgetting what pays the bills
Every business has core products or services which serve as the foundation for sales. And, every business has core customers that form that same foundation.
As small business owners look to grow sales and clients over time, they may be wooed by newer, sexier initiatives. Be careful to remain loyal to your flagship products/services and customers, while evaluating and dedicating resources to new ones.
We’re here to help…
If you need help maintaining your existing customers, or creating customer loyalty programs, we can help. Feel free to contact us for more information, as well as a FREE Marketing Consultation.
Additional ways to retain customers is knowing how to deal with reviews about your business. For more information on this, visit our blog on “How to Handle Bad Reviews.”
Best regards, until next time!
Exceller Marketing is a full-service marketing firm and website design agency servicing small and medium businesses, as well as entrepreneurs in Westchester County, NY and the tri-state area. With powerful traditional and digital marketing communications, coupled with business development, we keep our clients ahead of their competition.
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