Why Customers Stop Buying and How to Plan to Avoid Unnecessary Losses.

Have you ever lost a client without even knowing they were looking around?

For even the most “on the ball” Salesperson this is probably a very real reality. You lose clients without knowing they were looking. Less than 4% of your customers will tell you if they are unhappy so you may never know if you have a customer on the fence. There is something very British about not complaining about poor service, so here we take a look at the reasons why your customers may leave and change to another competitor;

Often this is through no fault of your own…

? 4% of clients either "die", move away or develop other relationships

? 9% of the time it is for competitive reasons, they grow too large for you to handle or their requirements change, and you can no longer service them.

? 5% of clients change management or ownership and use their other existing relationships.?

But often it IS your fault…

? 14% of clients leave due to Service/Product dissatisfaction. You did not keep their ‘service’ up to date, and a competitor introduces an innovative range of services.

? 68% stop buying because of a perception that you have lost interest.

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So, what actions can I take to retain those 68%?

The top priority is to prevent any hint of a perceived attitude of indifference on your part?so be sure to;

1.???? Ensure you thank them for your business once the sale is complete.?

2.???? Schedule regular emails that thank customers again for their business, and be sure to repeat where/ how they go/get for further service and support and make offers of new products.?

3.???? Schedule regular meetings with existing clients using your CRM system.

4.???? Regularly treat all clients as new business using procedures like site surveys and meetings involving all the key players in the client meetings to review progress to date, discussions of the product and more.

5.???? Determine the customer’s next need and remind them of your company, its products and services by email, phone, or direct mail.?

The main point here is to ensure your customers feel appreciated and those that feel looked after are unlikely to fall into the 68%. ?

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Plan for customer losses – Be Proactive

Are you guilty of any of the below?

• You send an invoice each month but have no other contact
• You believe service is so good they would not look anywhere else
• There’s no contact unless something is going wrong
• You keep passing their account to the newest member of staff to manage

?One thing is given,?you will lose clients along the way, so if you answered yes to one or more of the above it is good practice to put a plan in place to replace them, however, you may not feel confident in putting together a thoroughly planned sales campaign or maybe you just don’t have the budget, but it’s KEY that you plan something NOW.

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Some low-key low-cost ideas

• ?Invest in a good CRM system to enter contacts and opportunities so that they are not lost and forgotten, Build an opportunity Calendar. Use the system in all aspects of your business as your one truth.
• Have a Referral Scheme - most companies start in a small way with the owner (usually technical) having a couple of contracts, and then there’s growth over time through recommendation and referral. There comes a time when this comes to an end. So, we look at a referral scheme and offer a bottle of wine or a case of something. This tends to be a token gesture and as such delivers very little. So why not offer something of real value like a 10% discount on their support contract for each new customer they refer? A referral would be when they introduce you to a prospect, or maybe organise your first meeting. Not just a name and address on the back of a scrap of paper
• Regular Networking Events - You need to be seen so that other business owners know who you are. There are many of these events; don’t get overwhelmed, just set yourself a goal of attending at least one event each month. Build a small database of the people you meet and send them regular updates and news.
• Executive Briefings - Hold regular executive briefings with your clients; invite them to bring a friend. These do not have to be an expensive or big event just a small room with a few people discussing a proper business issue.
• Social Media - Build a following and regularly feed interesting and informative news.?
• The key to achieving long-term success in Sales is to see it not as a single event but as a process over time. You need to take a view over a least 12-month period; It takes time and effort to generate success. Each time you do anything, the circumstances and environment will be different, and therefore it is not unreasonable to expect a different outcome.? If you don’t plan to replace the customers that you lose on a yearly basis, then you will eventually end up with a large hole in revenues or no revenues.

?If you would like to know more about planning and winning new business why not?join our exclusive Sellerly Sales Clubs ?

Thanks for reading,

Paul Lloyd, Sellerly.

MSP/ VAR Sales Problem Solver, Sales Management Mentor

ALSO - Did you know I am a passionate bee enthusiast and keeper? Here is your bee fact of the day;

￡690 million is the mind-boggling amount that insect pollination is worth to UK crops each year. 76% of globally important commercial crops depend on insect pollination, which equates to 1 in 3 mouthfuls of food! (Soil Association)