What are some of the common reasons why customers leave or switch to competitors?

In my experience introducing " Voice of the Customer" initiatives- here are the top reasons customers leave: 1)Poor Service: Unresolved issues, long wait times. Example: Repeated billing errors not rectified promptly. 2)Lack of Personalisation: Unengaging experiences, generic interactions. Example: Generic responses to specific queries, showing no understanding of customer history. 3)Better Offers Elsewhere: Competitive pricing or superior features. Example: A competitor offering similar service at a lower cost with additional benefits.

Whatever your product or service the focus should revolve around the customers point of view and their experience with your product or service and the related commitments and follow-up. “Design Thinking” is a powerful framework to help ensure that you are focused on the customer, not only your bottom line.

Let's face it: people buy stuff because they expect it to solve a problem or make life better. If your product or service falls short, they'll hit the road. It's like buying a car that breaks down every week or ordering food that's cold and tasteless. No one wants that! To keep customers happy, your stuff needs to work like a charm. It should do what it promises, and it should be reliable. Plus, be honest about what your product can and can't do. Don't over-promise and under-deliver. When things go wrong, fix it fast and make it right. That's how you build trust and keep customers coming back.

It is known that high customer effort score is a key predictor of churn, in other words, the hardest the customer will work during his journey, the less loyal he will become. Read my latest article about CES to learn all about it!

Building lasting customer relationships involves continuous improvement. Regularly seek customer feedback to understand evolving needs and expectations. Leverage this insight to innovate and enhance your offerings, demonstrating a commitment to customer satisfaction. Proactive communication and swift resolution of issues strengthen trust, fostering loyalty in an ever-evolving market.

How you make someone feel will have a massive impact. So if a customer leaves feeling unhappy or the service wasn't great then they will move to someone else. Especially if it is a massive investment for the business then they expect a better level of Customer Service.

As a customer care representative and also a customer-to-vendor The major complaints often shared by dissatisfied customers Delayed dispute(complaint) resolution: For example, I ordered a coffee only to be given a lemon tea and after a series of calls, you asked me to wait 3-5 working days to confirm claims ??♀???♀? Poor product knowledge: why would I reach out to a customer care representative and you tell me to my face that you don't know what I'm asking rather than putting me on hold to confirm the request? Poor salutation: Not taking the time to confirm the name of the caller and knowing how best to address them

How you leave someone feeling can make a big difference. If a customer isn't happy with the service they receive, they're likely to go elsewhere, especially if they're making a big investment. Good customer service is key to keeping them satisfied and sticking around for the long haul.

O mau atendimento é reflexo de má compreens?o do cliente e capacita??o das equipes que o suporta. Crie n?o só programas de treinamento, mas também de reciclagem!

Empowerment is the key here. Ensure your customer facing team members have flexibility and are rewarded by finding creative ways to solve customer problems/concerns/issues and an easy process to pass this feedback up to leadership to solve for future customers. When they can’t solve on their own, ensure there is a clear escalation path so the team member can partner with a leader to help guide/coach and/or step in when necessary to ensure the customer is heard and taken care of. Leaders should regularly discuss the common occurrences and work with the necessary teams/departments to solve for the future.

In my experience, a key reason customers consider switching to competitors is a perceived lack of value in their current product or service. To address this, it's crucial to understand and deliver value beyond just monetary aspects. Crafting unique value propositions tailored to specific customer segments is essential for effective acquisition strategies. Simultaneously, implementing robust customer retention strategies, such as providing monetary incentives like lower prices or loyalty discounts, as well as non-monetary perks like VIP services or rewards, helps minimise churn. Leveraging an organisation’s capabilities within a sound financial framework is key for maximising customer value and ensuring long-term satisfaction.

Vamos falar de personaliza??o verdadeira: quando você atender um cliente, entenda seu negócio é seus desafios… criar sua jornada de solu??o será muito simples se você realmente quer resolver!

If you have a sales team then ensure they are trained on how to show the features/benefits to various customer segments. If you don’t have a sales team then ensure your marketing team is doing this. If you have both, ensure they are working together to identify and close these opportunities. Either way, it’s up to you as the business to communicate this messaging to the customer and show your value. Leaving this to the customer is assigning them work which is never a good strategy.

Make sure your sales team knows how to highlight the features and benefits to different types of customers. If you don't have a sales team, ensure your marketing crew handles this. If you have both, make sure they collaborate to spot and seize these chances. Ultimately, it's your responsibility as a business to convey this message to the customer and showcase your worth. Leaving it to the customer is like asking them to do the job, which isn't the best approach.

In my experience, customers often consider switching to competitors when they feel their current product or service lacks value. To counter this, it's crucial to deliver value beyond just monetary aspects and tailor unique propositions to different customer segments. Implementing robust retention strategies, including both monetary incentives and non-monetary perks, helps minimize churn and maximize long-term satisfaction.

Expressing gratitude with a simple "thank you" and a genuine smile holds immense value. Whether it's conveyed through a sincere email for online businesses or in-person interactions, consistently acknowledging the customer's trust is crucial. While incentives tailored to your business type are effective, remember to extend these gestures to loyal customers, not just new ones. Recognizing the cost-effectiveness of customer retention over acquisition, investing in the happiness of existing customers pays off, as a delighted customer can become a powerful brand advocate, facilitating new customer acquisition. As a Customer Success Manager, prioritizing genuine appreciation and consistent engagement builds lasting connections.

A simple “thank you” and a smile goes a long way. However you let the customer know you appreciate their business and for trusting you make sure it’s genuine and happens every time. It can be an email if you are online only. Incentives can range based on your business type but don’t forget your loyal customers by only offering incentives to new customers. Customer acquisition is more expensive than customer retention. Also, a very happy customer becomes a promoter for your brand and helps you acquire new customers so invest in them also!

Isso pode depender do ramo, em alguns a existência de um programa de fidelidade é quase queniana exigência, enquanto outros é um adicional. Entenda seu caso analisando competidores e deixando espa?o para inovar!

Programas de incentivo s?o uma ótima op??o é lembre-se de incluir requisitos e seja fiel a eles. Abrir excess?es é auto sabotagem!

For many people, the choice of what company to go with, especially in a market where there's limited variations in the product (e.g. utilities), price will always be the biggest motivator. A contributor to this is the low cost of switching (both financially and effort). Whilst many companies are starting to offer things like loyalty programs, if the value from these programs isn't high enough, then there's no attractiveness to stay. Especially as many 'reward' systems require you to be a long term customer before you start to see real value, and many customers would prefer to short term benefits associated with switching to a competitor.

Another pressure I discovered cropping up with my trade customers is about product selection: If your product selection is limited, customers may be more likely to switch to a competitor who offers a wider variety of products. This also goes to the aspect of convenience of B2B transactions: If it is inconvenient for customers to do business with you, they may be more likely to switch to a competitor who is more convenient.

Business is ruthless and you need to continuously optimize all operations and stay on top of your competitors. Go to their store/website, sign-up for their marketing emails and watch any videos/ads, buy and return a product/service but use it for 1-2 weeks first to see what they offer and how it compares to your offering and how their team handles the sale/return. Use “Design Thinking” to ensure you have the most competitive offering and team. Re-iterate and stay ahead of the competition.

Estar atento ao mercado e seus competidores é t?o importante quanto garantir a satisfa??o do cliente, pois a inova??o move o mercado!

A press?o é comum ao mercado, ent?o esteja sempre observando e buscando inovar, combinar solu??es e agregar valor às suas solu??es!

To make/provide the best product/service you must hire, train, and retain top talent. Ensure your business model allows you to pay for the talent you need to succeed and if not then see what adjustments you can make elsewhere to ensure this happens. Then invest in them with hands-on training and great leaders that lead from the front and guide and coach them and create efficiencies to make their work easier. Treat them like a human being with needs and wants and not like a number. Offer competitive benefits based on your industry and their skill level to ensure they stay. Create an inclusive environment where special projects/promotions are based upon work ethic and willingness to learn and execute not politics or relationships only.