No. 1 Reason Existing Customers Leave: Ways to Keep Them Buying
Keep your most valuable buyers with these low-cost tactics.
Why do customers leave a business, even after years of buying? A research project conducted in Washington D.C. revealed the following reasons:
- 1% Death
- 3% Move
- 5% Buy from a friend
- 9% Swept up by competitors
- 14% Price
- 68% Perceived indifference
Why do so many customers feel as though they’re treated indifferently? They aren’t reminded often enough that their business is valued.
Proven, low-cost ways to show appreciation: letters, cards, phone calls and email.
Consider using these messages and times to reach out:
After a customer says ‘no’
Thank them for giving you the opportunity to win their business again, and remind them to keep you in mind for future needs – as you’re always adding new products/services.
Following a referral
Thank customers and reassure them that their colleagues will receive the same respect and attention they’ve always received.
After a conversation
Tell them how much you were able to learn about their business needs, and let them know when and how you’ll contact them again.
At Thanksgiving/other occasions
Remind customers that your company’s thankful to have them on board. It’s also a good time to tell them the ways you’ll continue to serve them in the future.
Reprinted with permission from The Marketing Report, 370 Technology Drive, Malvern, PA 19355, 800-220-5000