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A Visit to the Land of Lost Customers

o what can you do when a client
decides to move their business
elsewhere and leave you forever?
SConducting exit interviews with
clients can lead to significant results for
your business. Every lost customer is an
opportunity to turn them into one of your
biggest fans (or learn valuable insights
about your business from them). Losing
a client is very costly. Depending on who
you ask, your business typically costs 3-30
times more to acquire a new customer huge. Simply put, this is an opportunity
than it does to keep existing customers to impress a person who is feeling down
happy. and remind them why they chose to work
with you in the first place. If you do it
Second, if you manage to deliver more right, you will be able to convert those
than necessary to a dissatisfied customer, customers and create a very positive
the distance between their current (low) image of your business.
and future (happy) state of mind is (Continued on Page 10)

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IPMA Connection • 1st Quarter, 2022 Page 9