Success is fickle and a company can start losing customers overnight. This is especially difficult if the managers don’t really know why or how to fix it. Continue reading to find some of the most common reasons for your business losing customers:
1. Poor customer service
Your customer service is the face of your company. Any time a customer has an issue or a question or want more information about a product, they contact a customer service representative. They form an impression about your company based on those interactions. Therefore, you need to offer impeccable customer service! The ramifications if you don’t could be dire! For example, TalkDesk found out that more than 90% of customers will leave your company after a bad customer service experience! On top of all, they wouldn’t even bother telling you why they were dissatisfied or leaving you feedback what to change!
Therefore, if you want to avoid losing customers, offer great customer service, as well as ask your customers for feedback. Thus, you can address any issues they might have during the customer service experience and improve.
(Read here if you want to find out more what to do if a customer leaves your company!)
2. Customers are dissatisfied with your products or services
Customers being dissatisfied with your products or services is another major reason which might lead to losing business. In addition, angry customers would most likely share their dissatisfaction on social media with their friends and family, leading to even more customers leaving. Therefore, invest time and resources into building the best product you can. Moreover, constantly ask your customer for product feedback and suggestions for improvements.
3. Customers can’t leave you reviews
This is a big one! Customers need an outlet where they can express their opinions about your company. They want to feel heard and valued and if you don’t offer them this possibility, their frustration will spill over on social media. Or worse, they will directly leave your company! Therefore, encourage your customers to leave you reviews! Send customer feedback surveys and engage with your customers online.
4. Negative reviews are a taboo
Some companies are very wary of negative reviews and would often discourage those. This is, however, a big mistake! Customers actually prefer a company which does not have a perfect 5-star rating, as they seem more trustworthy. In addition, by reading negative reviews you gain a very valuable opportunity to learn and improve. However, the way you handle a negative review is important as well! Don’t just ignore it, but rather answer by apologizing (even if it wasn’t your fault) and fixing the problem as soon as possible!
5. You are not on social media
This, on the one hand, repeats point 3. about customers not being able to leave you reviews. On the other hand, it is an indication that you are not “keeping up with the times”, as most companies nowadays have accounts on social media. Furthermore, by being on social media you can more easily open up conversations with your customers and thus build relationships with them.