Lost Business is Serious : Business Ideas : Profit Advantage Group

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Lost Business is Serious


It's harder to win new Customers than it is to keep them ... but sometimes we do loose Customers as a result of not delivering their requirements.

So if you loose a Customer take it seriousoly and find out why you've lost the busines so you can take a considered view as to whether you need to make any changes in your business processes.

It's important to note that an amount of churn (lost business) can be healthy for a business as it ensourages the development of new business relationships and challenges the "reliance" on a few regular Customers.

When (not if) you loose a Customer take the time to gain an understanding from them as to why they are un-happy. In fact if your business process is operating smoothly you will have a process of ensuring their satisfaction during the delivery process.

So, when you loose a Customer make a courtesy call to ask:

  1. How could we have served you better?
  2. What was the issue that lost our business?
  3. Did we not see the issue or acknowledge it seriously when we did?
  4. How you could improve service for future Customers?

These few questions will allow you to collect the informtion you need to improve your Customer Service (& Retention).

This type of feedback is most important when you're running a business that has a number of Employees and you as the business owner are stepping back from some of the day-to-day operations ... it's a great way to gain an insight into evolving business hickups before they become major business challenges.

(© Profit Advantage #37970)

Lost Business is Serious

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