Departing customers can teach you how to win them back, but only if you’re open-minded. This is how you should be thinking about it.
Losing a new sales opportunity to a competitor stinks, because it means you’ve wasted time and money pursuing a deal that isn’t going to happen, at least for you.
What’s much worse, though, is losing an existing customer to a competitor. In this case, you’ve wasted the time and effort to win the account AND the time and effort it took to keep them happy.
There’s more. Because it’s easier and cheaper to sell to existing customers than acquire new customers, and existing customers are a potential source of easy-to-close referral sales, even a single lost customer can have a ripple effect that increases your cost of sales!
…to read this article in full, visit leading US small business resource, Inc.
