How many customers have you lost in the last year?

14 06 2008

This is a question that focuses one the harder facts in business but shouldn’t be avoided out of fear. Actually this tough question has the enormous potential of really growing your business once again. It stems from that quote” you don’t know what you got till its gone”. You need to find out what your attrition rate is.If you are adding new customers to your business but not looking at the ones you are losing and more importantly the reasons why they are leaving then its like catching fish in a boat that has a leak in it (it does you no good cause you will still drown.)

The first part of this inventory is looking at how big that leak is and then determining what it will take to fix it. Find out what percentage of customers are leaving is crucial to putting programs in place to find out what you are doing wrong in their eyes so you can make your business stronger. There are only a few reasons why they left and often times the fix is so simple it will amaze you. #1 reason they don’t feel they have a need for your product or service anymore. In this case all you need to do is follow up with them and show them they are still important to you and how they can still use you business to their advantage in their life. It’s strange how the only thing that businesses FAIL to do is follow up with existing customers to find out what is it going to take for them to purchase another product or a second time . All you need to do is create an AUTOMATIC process for you business to do this. If you write to me at tom4change@gmail.com I can show you exactly how to do this to get the best return of customers possible. 

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