Don’t Lose Them—It’s Hard to Get Them Back
I have always enjoyed reading the Wall Street Journal each morning. I think they do a great job and utilize much of their business news as topics when I work with my clients. It’s also good for my own news nourishment.
Recently, though, they raised my subscription price (without any notification) to more than double what I was paying. When I called about it, they said there was no error. That’s what the new price was going to be.
At first, I thought I couldn’t do without it. I love their stories. Then, I thought about other ways I could get the news. I started to research some of the on-line stories in different publications.
I was amazed at all I could get— even more than what I got in the Journal. I will probably never go back to subscribing to the Journal because I found something better and more cost effective.
The message I have for you today is to make sure that you are very careful with your customers. If you change what you offer or raise prices, do you do it with care and thought? You don’t want to lose the people who have been faithful.
If you don’t do it carefully, they will move on and be faithful to someone else.
ACTION STEPS FOR THIS WEEK
- Make a list of any customers or clients you lost during the past 12 months.
- Find out the reason that each of them left.
- Come up with a plan to see if you can bring any of them back.
- When you talk to them, take notes of all of their objections about your products/services.
- Come up with a plan to handle as many of the objections as possible.