5 Ways to Lose Your Customers by Brad Sugars
There is a lot of discussion on customer retention; let’s take the opposite approach- “five sure fire ways to lose your customers.” To learn more, keep reading this post by Brad Sugars!
- Try to sell them something they already buy from you (as if it were something new). It never fails, each week I get an offer from a company trying to sell me something that I already buy from them. Wasted marketing dollars.
- Be inconsistent in your delivery. Have you ever gone to a restaurant that was great, only to be disappointed when you went back with family and friends? I know that I have. Inconsistency breeds a lack of confidence in your ability to deliver.
- Raising prices has a tendency to drive off some of your customer base – especially those that are price shoppers. This one has an upside and a downside. The upside is that if your product or service is fantastic, raising prices will allow you to increase your profit. The customers that you will drive away are the price shoppers that make up the lions’ share of your headaches.
- Respond slowly – a great way to loose customers. I responded to an ad for a marketing company two weeks ago — it took them a week to call me back. How could a company that focuses on marketing be that slow in responding? Obviously, I will not be using them.
- Perceived indifference the most important of the five. You have invested good money in acquiring your customers. Treat your “A” clients as gold by staying in front of them and reminding them how much they mean to you. The key to retaining clients is to make them feel special.
Action Tip of the Month from Brad Sugars — Customer Management!
It is amazing how the 80/20 rule applies to different aspects of your company.
80% of your sales come from 20% of your clients.
80% of your sales come from 20% of your products.
80% of your headaches come from 20% of your clients.
At ActionCOACH, we work with clients to identify the common characteristics of their “A” customers. Once identified, we determine how to best reach them by discovering where they live, where they shop, and what else they buy. Once we have a solid understanding of our “A” customers, we can develop the strategies to ensure that the lion’s share of our customers fall into that category.
So, what will you do with your customers that have no hopes of becoming “A’s” or “B’s?” Right now, you are giving your C & D customers attention that should be going to you’re A and B customers. Make the commitment to your business today that you will start giving the people who deserve it your undivided attention.
Action Book of the Month-I recommend you read, Instant Systems by Founder and Chairman of ActionCOACH, Brad Sugars– (visit www.amazon.com to order your copy today!)
Brad Sugars founded the brand Action International in 1993 when he realized there was a disconnect between business advice and implementation. The answer was Action! Brad Sugars created a business coaching company so that business owners throughout the world can realize their goals in business. Today the company is known as ActionCOACH and operates in 65 countries in the world. To learn more about business, visit Brad Sugars Reviews blog!