You spend so much time and money to acquire a customer…and then they stop buying, even though they have a need or future need. Whether you sell a regularly consumed product such as vitamins, or randomly purchased product like pond supplies, or long term products or services like mortgages, here are some specific tips for turning lost customers, clients or patients into more profit.
Urgency: It is critical to reach out to lost or inactive customers immediately and ask them why they stopped doing business with you. Often simply following up with a lost customer and reconnecting with them results in the past customer doing business with you again.
Note: Even if that past customer does not choose to do business with you again, you’ll gain valuable insights by reconnecting about ways to improve your level of customer service to assist you in reducing your customer attrition rate. (more…)