If you are running a business, at some time or another, you will have to deal with losing business. The vast majority of customers leave for the same reason: Their needs are not being met for the price they are paying. Relocation and other factors may sometimes supersede this principle. However, it is generally true. When customers leave, it is an opportunity for you, as a business owner, to gain valuable information from your client or customer.
This is an opportunity to find out what you can be doing better. Sometimes, customers leave because they simply don’t need your services any more. However, don’t just wave these customers out the door. Make sure that they have everything they need from you before they go. If you make their exit a great experience, you can ensure that if they ever need another service, or if others ask for referrals for your type of business, you’ll be their first choice. Honestly, it’s just good business.
Follow up: Don’t just let customers go. It’s important that you contact them when they seem to have fallen off the face of the earth. Send a quick e-mail or give them a phone call; remind them that you care about them.
Find out why: It’s crucial to determine why a customer no longer needs or wants your services; however, it is easy to become defensive when asking about it. If at all possible, try to talk to your client in person. Over e-mail, asking clients about their reasons for leaving can sound more aggressive then in person.
Equip them: Make sure they have everything they need when they go.
Whatever you do, don’t miss any opportunities to learn more about your business. When clients leave, make the effort to keep the relationship.
