Businesses lose customers for various reasons. I once lost a long-time customer of over 8 years, finding out only after realizing I was locked out of their hosting account. These things happen, and they happen for several reasons, but mostly, customers discontinue business because they feel they aren’t satisfied with current results.
A competitor swooping in at a local event and making new promises becomes an easily tempting proposition for your customer who hasn’t heard from you in a while. Just think, if you aren’t providing for your customer someone else will. Just as in personal dating relationships, if you don’t show interest and pay attention, there is always someone else waiting to take your place.
Customers can also easily be attracted to another business who simply excites them because that business presents something new and different. Nearly every year, businesses and customers will want to change how they do business. They will have new resolutions, new plans, and new strategies for success, and they will want to partner with a company or individual just as excited to fulfill their goals and take their business to the next level. During this time, you can’t simply offer the same products or services that you have always offered.
Generally, throughout the year, or at least once a year, you should make certain that you introduce or update your customers on new services and offerings. At the end of the year, your customers will be speaking with family and friends during the holidays. Those family and friends will offer business references, discuss new trends, or may even offer to do the work themselves for a lower price. Customers will also be attending local business events and parties, and everyone at these events will have a million ways of convincing your customer that there is a better and cheaper solution for them.
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Dr. Elijah Clark (May 8, 2023). Staying Competitive [Web log post]. Retrieved from https://elijahclark.com/staying-competitive/