Losing Customers? Consider These Four Reasons!
Once you have established your business, it is important to keep it profitable at all times. After a while, you may or may not notice a decrease in sales which is definitely a red flag, a sign that you should look into it instead of hoping for the best. Apart from continuing your research and finding ways to improve or develop your products or services, what else can you do? You can, of course, find out why your customers are not buying from you anymore. Once you have identified the cause/s, you can then brainstorm ideas on how to resolve the issues and take the necessary actions to bring back your customers. In case you need some help, here are four possible reasons why you seem to be losing your customers:
They Don’t Have Time
This is perhaps the most common reason people don’t return, show interest, or respond to your emails. It is, however, not possible to solve this issue on their behalf or ask them to make time to know more about your product. The only thing you can do instead is perhaps going to them in person if you are in the same city. If not, a simple message acknowledging the fact that they are busy might help. If your product can help them save time in any way, keep that as a hook and ask them if you can solve their time problem. Keep looking for innovative ideas that can help your customers.
They Have Money Problems
This is a real issue for most people as not everyone can shell out money impulsively. Whether you’ve reduced the price for them or given them a certain discount, it’s not anyone’s fault if you’ve noticed a decrease in your sales; your customer’s financial crisis is their own personal matter. If you have a B2B product, the business owner might be having some cash-flow problems in his own business. Since you are assuming all of it, it is best to be upfront and ask them if your assumption is right. If they answer affirmatively, instead of lowering the price of your product, you can offer them a deferred payment option or give them a chance to pay in installments. This might help you clinch the deal and make a good rapport with the concerned person, too.
They Don’t Need It Right Now
This problem might arise at any point in your journey as a business owner. The trick here is to make your product absolutely indispensable for your customers. If your customers feel that they can go on in their everyday life without your product, they definitely won’t feel the need to buy it. But you need to remember that they had a problem once which prompted them to buy your product or avail your service. Try to find out those pain points and keep following up with your customers. They might not respond right away, but who knows, they might eventually reciprocate in the future. If you keep in constant touch, it might be easier for them to remember you and the fact that they bought from you.
They Have Read Bad Reviews
The online review system has its advantages and disadvantages. Glowing reviews will definitely help you gain more customers, but, on the other hand, one single bad review can bring about your downfall. So, be very careful about it. If possible, try to reply to bad reviewers and see if you can actually solve the issues they had with you. If you can’t find any online review, the bad review may have come from word-of-mouth. So, it’s necessary to ask around, especially to your regular customers, regarding any problem that they may have experienced with your product. If that is the case, show them real data of your sales and reviews from similar clients or customers. Or ask them how you can improve. Also, you need to tell the world about your product, how it is different, how it might be more sustainable, and how it might help people. Building a reputation takes time, but it doesn’t mean you should be waiting for the ax to fall before you start saving your reputation. Once you have a good brand name, nobody can harm it by a single bad review.
Understanding your customers is crucial in making your business grow. When you know what your buyers want from you, it is easier to deliver. Take a cue from these tips, and see if you can grow your sales even more!
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