Dealing with a new customer is very enjoyable and enthusiastic time. And it should be for two reasons:
- First, a lot of efforts to convert them from prospect to customer
- Second, Motivate the team to move further
Now, you can all relate to this, no matter you are managing the online, offline or freelance business. Many times, the owner makes a mistake that is RETAINING OF EXISTING CUSTOMER. It is a dangerous situation, because, in the hope of getting new ones, we manipulate the things that affect the current buyers.
It can severely affect the business and can push you into a saturated condition. Even you are gaining more and more customers. So, how to deal with such a situation, right? It is the first question that hit your mind, do not worry. We have provided the solution, but let’s understand the possible causes behind losing the existing customer.
Top Reason behind Slipping Of Customers
We discover the top most causes, and you must relate to them. Or, it may happen that all of them not belong to you. You can select one that is belongs to your region.
- Increasing price
It may happen that you have increased the price due to which you hurt the existing community. It seems obvious because the reason behind the secure connection with you may be the price. The amount that you set a year ago may draw them towards you.
- Modify the product ingredients
Suppose you sell food products and you suddenly change the ingredients of it at a more significant level. There could be two possibilities or outcomes. It may draw more and more customers, and satisfy the existing buyers too. But, in case they do not like the taste, then they may switch the firm fast.
- Do not take opinions
Customers are the part of the company, though not officially but morally. Without them, you cannot run the business. So whenever you make some changes or altering the product or services, you should run a survey or poll to check how many of them are ready to change.
It is simple to direct, but still many owners overlook it either with overconfidence or with some random decision making.
- Fail to run the prototype
It is vital to check the product at a smaller level. In this, you can check how many customers are satisfying, and how many new are drawing. It is the most natural thing, but the entrepreneur starts at a higher level and ruins the business.
These could be the top 4 reasons behind losing a customer. Now, let’s have a look at them.
How to Retain Potential Customers
Many ways can aid you, but we have come up with the top five methods. So, let’s get started.
- Always stay Connected
In today’s business, all matter is the connection. If you do not have strongly connected with the customer, then you may lose them. You have to make a connection as far as you can, make sure that they feel that company care about them. It is an excellent way to retain them and build trust in them.
- Use Social media platform more
As we have talked about the connection, then social media could be the best way to connect, right? You do not have to spend money, all it needs a daily post so that you can create a strong bond. If you overlook the benefits of social media, then you may lose them.
- Provide Comfort and familiarity
Offering the best services is the method that can lead a small business to a large one. You have to meet the demands without bothering their current expectation. You should invest more in the existing customer’s services.
In case, you find hard to manage the cost, then you can leverage the options, like loans for people on benefits with no upfront fees or you can approach the investor to grab some significant funds. No matter what, make your service better as far as you could.
- Take responsibility
Whenever you make a mistake, take responsibility for that. You could not put faults on other shoulders. When you make choices, then make sure everyone has some efforts in it. Making a decision alone will never help you provide you with the best opportunities?
If you are new to this business, then it should be clear that what you will do in the next six months. If you find it hazy, then you are surely going to down the business. No matter, you have one plan, but that should be strong enough to beat obstacle, because someone says, “If you have another plan, then you do not have trust on the first one.”
- Choose with full confidence
You must have experience the depth of the last line we have shown. It holds the truth of the running business. It shows how bright the decision should be. If you find a problem and consider it as an exception, or black swan moment, then you are still not preparing for execution.
So, when you make the choice that must reflect the confidence, and motivate you to move from one stage to another. It may be challenging because creating a perfect plan means you have to spend day and night on it and come out with the best one.
These are the top five methods that can help you to retain customer along with bringing new ones. You have to make a balance between the latest and the existing buyers. Never get biased; just follow the plan, and move ahead.