3 Ways to Stop Customers from Leaving for Competitors

3 Ways to Stop Customers from Leaving for Competitors

Published on 22 January 2018

 

1. Add value

First, put yourself into your customers shoes. Consider what’s important and how your product or service will benefit them. If you’re having trouble with this part, that’s ok. There are many solutions to this. One is to get feedback from your target market through surveys. This could be online, or it could be on the phone.

During the first phase, think: start helping, stop selling.

Once you have figured out how you can add value to your customers, pick up the phone and call them. Let them know about special deals and discounts.

Another way to add value to your customers or clients is to offer a whitepaper or any type of free resource. This will give your target market insight into the industry and provide them with information that they didn’t already know. It will make it more difficult for them to leave for a competitor.

 

2. Build a better customer experience

If you’re looking for more positive online reviews, word-of-mouth referrals, and higher retention rates then it’s time to develop a memorable customer experience.

This will allow you to develop a relationship with your customers, potentially recover lost customers, engage existing customers, improve customer satisfaction, and add a competitive advantage to your company.

Improving the customer experience is something that is easy to do and provides your company a lot of benefits. 

 

3. Design a customer outreach strategy and stick to it

The purpose of customer outreach is to introduce something awesome to your customers. This can be the white paper or it can be a new amazing service. It should be something that will get your customers excited and again, add value.

QCSS worked with a client in the healthcare industry who was losing their own customers and market share due to aggressive acquisition tactics of a competitor. That’s when QCSS helped design and implement a customer outreach strategy that allowed the client to provide more customized, high touch relationships with their clients.

In the end, QCSS reduced customer churn for the company.

 

QCSS Case Study

 

Client:

The client produces compliance publications for billing and coding departments within hospitals, private practices, and home health facilities.

 

Problem:

This company was losing their own customers and market share due to the aggressive acquisition tactics of a competitor owned by a multi-billion-dollar healthcare company.

 

Solution:

QCSS helped design and implement a customer outreach strategy that allowed the client to provide more customized, high touch relationships with their clients.

 

Outcome:

 

QCSS reduced customer churn.