You’ve just lost a client and it may feel like the end of the world, but it’s not. You have a 60-70 percent chance of successfully selling again to a current client/customer. The most important fact, however, is that you have a 20-40 percent chance of winning your former client back.
So how do you do it? Here are some ways to get you started:
- Do you want them back? Not all clients are created equally. If they were a difficult client to work with, consider it an opportunity to refocus your attention on other areas and clients. The most vocal clients tend to get 80% of our attention. What other clients have fallen through the cracks because of this?
- Find out why they left. Conduct a Strengths, Weaknesses, Opportunities, and Threats (SWOT) analysis to asses why your product/service no longer holds the same value. Where are your weaknesses in the changing market? Is your pricing current? How competitive are you compared to others in your field? Most important of all, ask the client why they left.
- Write it down. Don’t wait half a year to re-engage with your lost clients. You need a plan of attack, a written plan for winning back that customer. Find reasons to stay connected and keep them guessing on what you’ll provide. It’s a good idea to create meaningful content that connects with their needs and is tailored for their success.
- Adjust your offer. Make the deal sweeter or find out of you are the cause for the unhappy relationship. If it’s you, fire yourself from the project and offer up someone else to take your place. It could be a simple personality conflict. Be flexible and you’ll see a happier customer.
- Take responsibility for your mistakes. Don’t brush your mistakes under the rug. Own up to your mistakes, set a plan in place to prevent such mistakes in the future, and provide a roadmap to help get your client back on track.
- Ask permission to send them industry information. Tailor the information to their needs.
- Avoid the emotion pitfall. Don’t take it personally. Client turnover is a part of the business experience. Remember that nothing lasts forever. Loss of a client is an opportunity to win them back, and possibly at a lower cost than before.
- Most of all, you want the client to leave happy, if they decide to go. A personal referral holds more weight than gold despite the influence of social media on marketing.
Do an analysis of that client in regards to your business. Find out where things seemed to become strained. Then look at past client losses. Patterns can emerge that show a weakness you might not be aware of. You want quality, satisfied clients. And they want a company they can trust.
Owner, Director of Social Media and
Partner Management at Top Hat