How To Lose Customers

Are you plagued by a fear of losing too many customers?

There are many reasons why you might lose customers, but there are two primary reasons:

  1. Raising prices.
  2. Creating rules.

Norm Brodsky, the author of The Nack shares:

”I have a little game I like to play. I keep track of the number of episodes of bad customer service I hear about, or experience, over a six-month period and use that as a rough gauge of the general level of customer service in my part of the World.”

Raising Prices.

Obviously, you need to raise prices of your products. Unfortunately, if you raise the prices infrequently and too much, you will lose customers.

The better option is to raise prices incrementally and frequently; this gives your clients time to acclimate to the new pricing.

Creating Rules.

Rules are necessary especially as your company grows but some rules are based off a knee-jerk reaction. Brodsky explains: ”In most cases, it’s not the employee who creates the problem. It’s the employer. How? Usually by establishing a bad rule.”

So instead of making a bad rule why not investigate the problem and treat it as a learning moment. By looking at the problem as an opportunity to improve the process, you empower customer service and keep the customers happy.

Running a successful business is an exercise in feedback and iteration. It’s critical that you collect customer feedback and create an environment where the information can be experimented on, and implemented if it works or dropped if it does not work.

That is your responsibility as an owner, to build an environment where your team can test the feedback loop and add what will make your company successful.