...turning the voice of the customer
into management actions

Home >> Buzz, blog and dialogue >> Three big reasons why companies lose customers, and fail to get positive referrals

Buzz, blog and dialogue

Customer retention

Here today, gone tomorrow

Three big reasons why companies lose customers,
and fail to get positive referrals

One big question I keep hearing is: “We invest a small fortune attracting new customers, but how should we keep customers coming back for more and ideally, telling their friends to come too?”

Well, this made me think, the really big question companies should be asking is: “What makes existing customers go away?”  So I thought weíd better find outÖ

From customer experience research weíve conducted for more than ten years in multiple industries, we see three big reasons why companies lose customers, and fail to get positive referrals:

  

 

Customer retentionFor many businesses, the combination of these three reasons has a serious impact on revenue, and profitability.  For many public sector organisations, these three issues have a serious impact on operating costs, regulatory compliance, and support from customers.

This is why so much of the work we do with clients, focuses on measuring and fixing these three key areas.

Over the next few months Iíll be sharing some of the insights, tools and techniques we use with out clients to understand and address these risks.  For example, why is it that even though many organisations try really hard to satisfy their customers, so many bad customer experiences still take place.  Check out our thinking on this topic where I describe the Four alternate realities of the corporate/customer universe

If you are keen learn more, please feel free to join our reading room, or please get in touch, and we can schedule a chat.

Upcoming events:

From time-to-time we also run workshops, masterclasses, roadshows and online training courses to help organisations accelerate their progress towards being tuned success. Please check here for information about our upcoming public events.

 

View more posts© CTMA New Zealand Ltd.

 

About the author: Paul Linnell

Paul LinnellPaul Linnell is a service improvement champion, working internationally with senior managers and their teams to help them achieve business success, reduce risk and build customer loyalty and advocacy by improving service to customers.  Paul specialises in the design and deployment of customer experience measurement, service quality improvement, complaints handling and preventive analysis programmes.  For most of his career he has worked in Europe and North America and for the past 10 years Paul has been based in New Zealand, continuing to serve clients globally.

View Paul Linnell's profile on LinkedIn Google+