When you lose a customer, you lose two ways. First, you don’t get their money. And second, your competitor does.
Great quote there, don’t you think? Recently, I had to make a decision to stop doing business with a company that I greatly admire and respect. They did a lot of good for me, but it was time for me to try another group for these services, we just weren’t getting the results I needed. In reality, it was a lot of bad luck on their behalf. However, in calling them to tell them we were not going to work with them anymore, I was completely blown away by how they handled the situation. And it proves that they are a very well-run firm.
I am a very small client of theirs and they will not miss me. However, you would have thought I was one of their largest clients from the way they treated me. When I commented to one of their representatives how impressed I was with their attempts to keep me, they said, “We don’t care how small of a client you are. Small clients become big clients and it’s never a good thing to lose a client. You know a lot of people and we don’t want anyone to not be happy with us. When you lose a client, you not only lose their business, but you lose their referrals, and it’s just not good for anyone. We try to keep to retain all clients; we are not in the business of losing clients.” A big old WOW on that one!
This week I challenge you to think about how you handle a client who wants to leave? How are you letting your clients know that you appreciate their business? Are you checking in with them regularly to make sure expectations are being met? If not, I suggest you start. Just like Gates saidâ€”losing a client hurts your wallet and makes the competition’s wallet fatter, not a good thing, to say the least. If you are losing clients or don’t feel like your business is anywhere near where it could be, please attend my 11th and Last Ever Boot Camp this February in warm and sunny Tampa, Florida. Get details by clicking here www.martygrundersbootcamp.com.