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Will your client go to competitors? Measuring loyalty
The sad news is that while we spend crazy money to attract new customers, the old ones fall off. We see this picture in all businesses, the only question is how many customers are leaving, and how much it affects the implementation of sales plans.
January 16, 2019
Will your client go to competitors? Measuring loyalty.
The sad news is that while we spend crazy money to attract new customers, the old ones fall off. We see this picture in all businesses, the only question is how many customers are leaving, and how much it affects the implementation of sales plans.
With one of my regular customers, we did not ful fill the sales plan in December, precisely because of the outflow of regular customers. In other months, this was not so noticeable in terms of revenue, but when our ambitious goals failed in December, the question became an edge.
Yes, it was still a record amount of profit, but according to my calculations, it could be 20% higher if we did not let our regular customers go to marketplaces. We have come up with a time-consuming solution that we will now test, but this is not the point.
Returning a departed customer who has already placed an order in another company is much more difficult than keeping an existing one. He has already received a new experience, and now he is quite comfortable in his condition. This means that in order to get him back, you will have to bend much more than when he is just thinking about leaving. This is more expensive, longer, more energy-consuming, and less efficient.
It is to save customers that their loyalty index, or NPS, is measured. What questions to ask and what to do to make this indicator work for you, and not just gathering dust in the computer, we will tell you in the next post.
With one of my regular customers, we did not ful fill the sales plan in December, precisely because of the outflow of regular customers. In other months, this was not so noticeable in terms of revenue, but when our ambitious goals failed in December, the question became an edge.
Yes, it was still a record amount of profit, but according to my calculations, it could be 20% higher if we did not let our regular customers go to marketplaces. We have come up with a time-consuming solution that we will now test, but this is not the point.
Returning a departed customer who has already placed an order in another company is much more difficult than keeping an existing one. He has already received a new experience, and now he is quite comfortable in his condition. This means that in order to get him back, you will have to bend much more than when he is just thinking about leaving. This is more expensive, longer, more energy-consuming, and less efficient.
It is to save customers that their loyalty index, or NPS, is measured. What questions to ask and what to do to make this indicator work for you, and not just gathering dust in the computer, we will tell you in the next post.