Warning: 3 Reasons You’re Losing Customers

Your most profitable customers are almost always long-term customers. Don’t lose them by making any of these mistakes:

1.) Treat customers too differently

While providing incentives to new customers can be a great way to encourage further investment into your brand, it can cause tension amongst existing customers who feel upset that their commitment has gone unnoticed.

Loyal customers expect and deserve a thank you too. And considering that on average loyal customers are worth up to 10x as much as their first purchase — it’s something that you should be expressing more often.

So when you’re busy thinking of all the ways to treat new sign up’s, don’t forget about the customers who have stuck with you for all this time and find a way to reward them!

2.) Ignore customer feedback

It sucks to hear the flaws in your product or service. Particularly if you run a small business and your livelihood depends on its success. But remember ‘your most unhappy customers are your greatest source of learning’. Instead of pretending like negative feedback doesn’t exist, address it head on.

Find out the reasons why a customer didn’t rate their experience higher. Learn how you can make things better next time. And continue to interact with your customers on a more regular basis moving forward to see how you’re progressing.

3.) Not give them a reason to return

Think of your favourite getaway destination. What makes this place somewhere you want to come back to time and time again? I’m pretty sure it has something to do with an exceptional experience that has exceeded your expectations.

Having your expectations met usually only means that you won’t be unhappy with the interaction or exchange!

If you really want to build a loyal fanbase, rather than just have satisfied customers, put yourself in their shoes and understand their expectations. Never make a promise you can’t keep and consistently over-deliver on all counts.

What tips do you have that have helped retain existing customers and improve customer loyalty?