Any smart business person knows the importance of not only seeking out new clients, but generating more business with your current clients.  It’s considerably more expensive to find new business clients than to retain the ones that you have. So, it’s in your best interest to focus on the clients that you currently have as much as possible.

If your customers rarely come back for another purchase, then it’s time to start asking yourself why you aren’t retaining them. Here are some of the biggest reasons that may be leading to losing clients. 

You Don’t Understand Their Needs

It’s vital that you understand your clients and know what it is that they’re after.  Even though you may have multiple services and products that you offer, your clients don’t necessarily need all of them.

Understand each individual client’s goals and needs without trying to oversell them. When a client feels like your top priority is making money off of them rather than making sure their needs are met, then they’ll eventually take their business elsewhere. 

You Promise More Than You Can Deliver

A lot of business make big promises out of hopes of closing the sale.  However, when you make a promise and fail to live up to it, you’re creating a bad name for yourself. Rather than overpromising, consider overdelivering.

It’s better to set realistic and achievable expectations for your customers rather than not living up to what you say you’ll do. 

You’re Not Making Them Feel Valued

Your customers should feel like they’re more than just a number on a page. Make sure that you go above and beyond to show them how much you appreciate their business.

Customer service is an essential part of showing them that you value their patronage. Your customers want to feel like you go the extra mile rather than only putting in minimal effort.  Why would they continue giving you business when they could go somewhere with much better service?

You’re Not Accepting Criticism

Your customers want to be heard. Don’t make the mistake of rejecting criticism. Invite your customers’ feedback by asking them how you could do better next time.

Rather than being defensive or turning the blame on your clients, consider that what they’re saying may have value. By constantly striving to do better, you’ll make as many clients as happy as possible. 

You Don’t Reward Loyalty

When customers come back to purchase from you again, reward them for their loyalty. Thank your customers by giving them a little something extra. Whether it’s a gift or bending a rule in their favor.  

Failing to treat your customers with extra care when they are loyal is the fastest way to ensure they take their business elsewhere. 

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About Author

Hi Im Eddie. Ive been working in finance for most of my life so I thought I would start to show some or my learnings. Hope you find it useful. I have dogs too and cats. When Im not feed them Im running.

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