If you have been losing a lot of clients lately then you might wonder what it is that is causing them to desert you.
This is a hugely worrying situation for any company to be in, especially when you don’t have the faintest idea what is wrong. If this is where you are right now then it is definitely time to work out what is happening.
The following list of common problems could help you to find out what you need to fix. If you can identify which one of these is your current issue then you will be on your way to fixing it and stopping the loss of customers.
There Is a New Player in the Market
Could it be that a new competitor has entered the market and is taking some of your business away from you now? They might be charging less than you or giving a more comprehensive service that lures customers away to them fairly easily.
If you aren’t yet aware of the existence of this rival then you are in for a bit of a shock when you see what they are up to. However, if we look on the bright side then by finding out about their presence in the market this downturn in business will no longer be a mystery.
Now the task is to find out all about them and work out how they are managing to steal your customers away from you. You need to find a way to make your offers more attractive than theirs if you are going to reverse the flow of customers, which means identifying your current weaknesses and fixing them.
Your Quality Has Declined
Another possibility is that you are losing business because of a drop in quality. Are you no longer offering the same high level that you did when you first started out?
Your initial reaction might be to deny this, as it is only human nature to say that standards aren’t on the wane. Yet, when you look at it in the cold light of day you might feel that there is some truth in the matter after all.
Have you been cutting corners or have you lost some experienced members of staff who haven’t been adequately replaced? It is time to be completely honest about where you stand and how to boost your quality back to its old level or better.
Your Database Is Out of Date
A problem that a lot of businesses come across at some point is when their database becomes out of date. This is usually a progressive issue that might not become evident for some time.
However, if you are finding it increasingly difficult to get hold of customers then it could be that you need to start with the likes of a postcode lookup tool to make sure that you have the right details to be able to get in touch with customers.
When you feel that that there are potentially a lot of duplicates or incorrect addresses in the system then that could be another problem. You can deal with this by carrying out a bout of address data cleansing that leaves you feeling confident about having the wrong details on file from now on.
Your Product or Service Is No Longer As Attractive
Has something happened that means that the product or service you offer is no longer as attractive as it once was? Maybe technical advances mean that what your offer looks a bit out-dated or is no longer relevant.
There are numerous reasons for why your product or service might no longer seem as attractive as it once was. This might be difficult to admit but once you face up to it you this means that you can start to make the changes that are needed.
Is there some way of updating what you do to make it more attractive again? If there is then now is the time to get going.
You might find that making the right moves at this time gives you a fresh start that lets you do ever better than you were doing before. Don’t be afraid to make some bold changes and do things differently from before in order to move forwards with more confidence.
As you can see, there are a number of different possible reasons for losing a lot of customers. In most cases there should be something that you can do in order to get back on the right path again.