Does anyone have any good tips for how to find the root cause of a customer retention problem?
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Vice President Global Sales & Marketing in Healthcare and Biotech8 months ago
It's as simple as just talking to the customer and emphasizing why they are leaving. No tricks. No Science. Just be personable and find out what their challenge was. I don't try to resell them or recapture that puts walls up. Be human and personable and be professional. Wish them luck and thank them for the business. Do the data mining and comparing and track your win/loss/leaving.Director Value Engineering8 months ago
Look the other way around : why would a customer stay ? Satisfaction, Money for Value, care, respected promise, innovation, poor competition…
Also, look at the data. Is there is a certain product that has higher customer retention? A specific sales person or territory? Is there a certain time period where customers do non-renewals? Be very intentional about this and allow data to drive your decsions not gut feelings or emotions.