Does it make sense to spend money attracting customers and then lose them because of poor customer service? Think of the cost involved. This is why customer retention is a top priority for many organizations. No matter the size or type of your business, you can start by understanding why customers stay and why they leave.
We have found that 45% of dissatisfaction is caused by employee behavior, 35% by products/services and processes which have had an unfortunate impact on the customer, and 20% can be caused by customer misunderstandings or unrealistic expectations. You need to find out, why your customers are leaving and what it will take to keep them.
From our experience, proper communication with your customers, listening to their comments and replying shortly after improves retention. Use our automated alerts and triggers that notify you when customer feedback demands immediate attention. Bear in mind, a customer can be lost after only one bad experience.