Why do customers leave?
This is the age-old question that almost all businesses have asked themselves ... “Why do customers leave us?”
COMMUNICATION is the reason that most customers take their business elsewhere. Without the right amount of communication, the customer...even if they are happy with your business and what you provide...can be wooed away by your competition.
This is exactly why Foxie developed FoxieEngage...to ensure that there is always a clear and open line of two-way communication between your business and your customers, without ever missing a message, regardless of how your customer chooses to connect with you.
No business can retain 100% of its customers over time...that is a fact. All businesses WANT to retain their customers, and Foxie has compiled some reasons why that might not be possible:
- Price and Customer Service – Studies have shown that 51% of customers say outstanding customer service is more important than price. That leaves the remaining 49% of customers who will jump ship if your prices aren’t at least as competitive with theirs.
- They have something you don’t -This is hard to overcome. If your competition offers a service or product that you don’t, you may lose the customer.
- Promotions – This isn’t always about the price itself. It could be a bundle with enough perceived value to convince a once-loyal customer to leave. Using loss leaders to steal customers from competition is an example of this.
Remember, communication is key for customer retention, so make sure you are communicating with yours regularly and becoming aware of any issues before those issues become an example of why a customer may leave.
FoxieEngage will help to ensure that messages from your customers are never missed.
That’s peace of mind.
Call us at 866-BE-ENGAGED (866-233-6424), text START to FOXIE (36943) or just shoot me an email at ascott@foxie.com
