Why do clients go elsewhere?
It is probably not your price list
There are many things that can make a client decide your company is worth neither their time nor their money. Your products and your price list rarely play a role in it. Remember: the clients who leave must have initially believed your business was valuable. In fact, around 80% of clients describe themselves as satisfied right before they head to a competitor. So what triggers the departure?
Your customer service is lacking
Maybe you have not put together the best team, or your problem-solving playbook is not in place? Poor customer service can make clients leave in droves! You and your team must be able to maintain a client-centred attitude. It is important to know your products and services, and to understand how to match them to each client individually. Simply being friendly and greeting everyone with a smile is not enough! Clients need your guidance and care, and if they do not get it from you, they will find it elsewhere.
Clients do not feel valued
Turn on the TV: how many absurdly cheap offers are aimed at new clients? Plenty. Unless your business is the equivalent of a cable or internet provider with minimal local competition, you cannot win using the same tactic. Reward loyal clients! Avoid big gaps between what you offer new clients and what you offer existing ones. Remember, it is cheaper to keep your current clients happy than to attract new ones. Your loyal clients spend noticeably more per transaction, and they also spend more over the whole relationship than those who have just joined.
Your staff turnover is too high
If the client sees a new face every time they walk through the door, call you or send an email, they subconsciously lose trust in your brand. No amount of branding, client communication or quality products and services can replace the personal service a long-term employee can offer. A familiar, friendly employee who knows how to help, whether it is finding the best winter coat or preparing the perfect menu for a party, is extremely valuable in building loyalty.
Clients think you do not care
The number one reason clients decide to leave? They think you do not care about them. It is why 60–68% of clients decide to leave and choose another company. Lack of personal communication, failing to answer inquiries and feedback, canned support replies, aggressive advertising the moment the client walks in, and failing to build a connection. These are the reasons clients may choose your competitor, who makes them feel more wanted.
If you notice heavy client churn and your sales come from new rather than existing clients, the reason your clients do not come back is probably one of the above. Identify the problem, work on solving it and start winning back the clients who left. Personal service, exceeding expectations and making sure your people are at the top of their game will prevent competitors from simply walking away with your clients. If your team is too small for this and hiring is out of the question, you have come to the right place. Working with a virtual assistant is the best solution: your clients get a personal approach and you can focus on the main thing, your core business.
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