Why Businesses Lose Customers

 I attended a Burnaby Board of Trade Boardroom Series workshop today.  The guest speaker was Roy Prevost, who describes himself as a customer service strategist and small business crusader.  Roy began his session by asking what is the objective of your product or service?

And your answer is …?

This got me thinking… According to Roy, your objective should be to make a difference in a customer’s life.  It is not about selling a product or service.  How will your product or service make life/business easier, better, happier for your customer.  When you can achieve that, customers want to buy from you.  You sell value not “stuff”.  This applies to yuor external customers as well as your internal customers (colleagues, suppliers, other divisions etc.)

Why Businesses Lose Customers
Customers don’t buy from you again for many reasons… here are some of the key reasons.
1% die  (good for funeral directors but not you!)
2% move away (good for their new ‘hood but not you!)
5% move on a friends advice (the power of a testimonial in action – but not in your favour!)
68% leave due to the indifference of the business  (need I say more?)

Core Values
As a business owner or professional, you want to achieve something in your career.  Do you know what that is?  Does it play to your strengths, or are you confronted by your weaknesses more often than you would like?  When you focus on your core values, you will identify what is most important to you, at your core.  Aligment of actions in your career with your core value is a critical component.  Take time to explore your core values and write them down!  Post them where you, and others, can see them.  When you face conflict – ask yourself – are your actions or is the current situation in alignment with your core values.  If the answer is “no” then you need to consider a change.

Do You Love What You Do?
This may seem like a redundant question but its an important one.  I changed career, not because I wasn’t successful, but because I wasn’t loving what I did.  I loved working with my clients but I didn’t love the system I had to work within.  I felt constrained and couldn’t maximize my effectiveness.  Now, I truly love what I am doing and know I have options open to me to provide my clients with the value they are looking for.  Keep focused on the positives and more good will follow.  Every job or business has its challenges.  Can you find the good to keep your brilliance shining through?

Are Your Clients Your Best Referral Base?
Every person in a leadership role in business, whether you are an employee or entrepreneur, knows that the best compliment you can receive is a referral from a customer.  Their testimonial is paramount and will provide more value to potential customers than anything you can say.  In today’s world, video is rapidly becoming the electronic medium of choice.  Ask your key clients to provide a testimonial for you and record it using a camcorder/flip-cam and post this on your website for others to see.

How Do You Make People Feel?
If you don’t like people, you probably need a job where you don’t have to deal with them – not easy to find.  If you are not dealing with external customers, you probably have to deal with internal customers — colleagues in other departments in you company, or your suppliers.  People want, and need to feel valued as a customer.  If you fail to achieve this, clients will leave.  Why stay when you don’t care about them?  You may care but do your actions reflect that?  Have you called your clients to thank them for being a great customer and supporting your business?  Have you sent a thank-you card or token of your appreciation – not because it’s Christmas but ‘just because’?

Take time to identify your core values, identify the positives, connect with your clients in an authentic way and show your gratitude.  This will become the best gift you can do for yourself, your business and your customer to keep them coming back!

Thank you for reading my post.

Have a wonderful week!

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