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4 Reasons For/Behind Customer Walk-aways
- Authors
- Name
- Sarah .M
It never feels good when a customer leaves your business not only are you loosing revenue to keep your business going but your most likely loosing your businesses good reputation. Today we are going to breakdown the possible reasons for customer walkaways and how we can prevent it.
The reasons why customers leave businesses are a complex topic. But Hughes makes an essential point: most reasons fall into one of these four groups. Customer walk-aways play a major role in your performance as a business and it's important you do your best to identify and squash the issue.
To improve customer retention, reduce customer churn, and stop losing customers, you have to understand the fundamentals behind their decisions; why are customers leaving?
Table of Contents
It looks extremely busy inside your business
If you're business looks extremely busy inside most customers will be reluctant to walk inside let alone wait. Using a virtual queuing system will keep your business looking less busy, which will in turn promote customers to take in the first step in walking inside. Long wait times are endangering any hope of your business scaling to a new milestone.
They are unhappy with the price
One of the most frequent changes businesses make when they begin to lose consumers is pricing. Customers can depart because of price, and pricing strategy is of course a whole field of study in marketing.
If you do have a valid pricing issue, solving it can require some investigation. Including necessary considerations about your profit margins and cash flow, as well as market norms and the perceived value your marketing is generating.
They are unhappy with the service/product
Customers leave if they think a competitor can provide them with a service better than you can.
Your clients may be satisfied with your pricing and fit into the right market niche. But they're eventually going to go if they don't genuinely enjoy what you have to offer. In fact, many businesses offer discounts and lower costs when they are having difficulties keeping clients. Price reductions, however, are the beginning of the end if you are losing clients because they are dissatisfied with your goods or services.
They are unhappy with the way that they are treated
The final reason why clients leave is both common and underappreciated.
Folks are intelligent. They are able to recognize when you are servicing them without actually caring, and customers desire to feel valued by you.
Customers will lose faith in your company if you don't provide them with an excellent customer experience. You don't just give "excellent" customer service, you create excellent experiences.
All aspects of the customer experience fall under one of these four main categories. However, they are also thorough enough to allow you to examine your company critically. to grasp the causes of customer churn and how to improve the customer experience.
