All ambitious entrepreneurs want to grow their businesses. But it’s impossible to achieve this goal without the support of loyal customers. There are many reasons why customers are abandoning your product or service, but the key to retaining loyal customer lies in learning why your customers are dissatisfied. We’ve compiled a list of the top reasons small businesses may lose customers– and how to prevent it from happening in the future.
Problem: You’re reaching the wrong customers
If you’re finding a sudden drop in sales, maybe you need to reconsider your customer base. Maybe you are casting too wide a net, or your message isn’t resonating with your target audience. Either way, your business can benefit from analyzing ways to reach the right customers.
Solution: Conduct more market research
If you think you may be reaching the wrong customers, try delving a little deeper into your market research. Are you marketing to the right customers? Are there untapped markets you should be reaching? Invest some time in your market research by utilizing census data and surveys to gain a better understanding of your customers.
Problem: You’re ignoring customer feedback
If you have a social media presence but never check your notifications, you may be doing your business more harm than good. Ignoring feedback is a surefire way to alienate your customers and send the message that you don’t care.
Solution: Make communication a priority
It may seem simple, but making the effort to respond to or follow up with your customers is a great way to make them feel recognized and important. Send your customers a friendly email after they complete an order to gauge their satisfaction, or respond to comments or questions on social media. Don’t forget to respond to negative comments, too– whether you choose to address them directly or through private messaging. Customers will likely appreciate your honesty and your time spent addressing their concerns.
Problem: You’re juggling too many tasks
Do you often feel like you have too much to do and not enough time to do it? By overloading your commitments, aspects of your business may suffer as a result. Packaging and shipping your products in-house may lead to late deliveries or inaccurate orders, which can ultimately lead to lost customers.
Solution: Outsource to a trusted third party
If you’re feeling overwhelmed by the responsibilities of your small business, consider outsourcing some tasks to a trusted third party. Companies like Ohio Valley Goodwill Industries are the area’s trusted experts in packaging, shipping, and assembling products for small businesses, and we have 100 years of experience to prove it. If you want to lighten your workload, contact us for a free tour of our facilities and learn more about our services.