Why Customers Quit

A typical business hears from only 4% of its dissatisfied customers. The other 96% just quietly go away and 91% will never come back.

A survey found the following:

  • 3% move away
  • 5% develop other friendships
  • 9% leave for competitive reasons
  • 14% are dissatisfied with the product
  • 68% quit because of an attitude of indifference toward the customer by the owner, manager or some employee.

7 out of 10 complaining customers will do business with you again if you resolve the complaint in their favour. If you resolve it on the spot, 95% will do business with you again. On average, a satisfied complainer will tell 5 people about the problem and how it was satisfactorily resolved.

The average business spends 6 times more to attract new customers than it does to keep old ones. Yet customer loyalty is in most cases worth 10 times the price of a single purchase.

Keeping Customers for Life

  • The secret to winning and keeping customers is to reward them.
  • Forget about selling. People love to buy but hate to be sold. Concentrate on helping customers buy what’s best for them.
  • The greatest customer you’ll ever win is you; as the best salesperson is the true believer.
  • The only two things people ever buy are good feelings and solutions to problems.
  • Whenever you have contact with a customer, you are the company to that customer.
  • It’s not enough to give the customer excellent service. You must subtly make him aware of the great service he is getting.
  • To win new customers, ask the golden question: “What’s the unmet want?”
  • To keep them for life, ask the questions: “How are we doing?” and “How can we get better?”
  • The 5 best ways to keep customers coming back: be Reliable, be Credible, be Attractive, be Responsive and be Empathic (reliable CARE).

The above has been excerpted from Michael LeBoeuf’s best-selling book, ‘How to Win Customers and Keep Them for Life’.