Winning back clients
Client loss is a bitter truth of business operations. Even the most amazing, successful companies will find themselves on the losing end at one point or another, with a client who decides it’s just time to end the relationship. What can you do when that dreaded day comes? The good news is that all is not lost — there are ways to win back clients who have shown you the door:
Find out what happened: Step one is to take a step back and assess the situation. Clients don’t terminate contracts out of the blue. Did they feel slighted by a sales rep or your company? Were better products or services available? Were there communications problems? Sometimes your business may not even be the problem — budget cuts being an unfortunate reality — but it pays to ask. Once you are aware of the issue you can put together a plan to rectify it.
Request an exit interview: Exit interviews fulfill a twofold purpose. First, they allow the client a chance to debrief you on your relationship, which can highlight weaknesses your company needs to work on. Second, they give you a chance to ask the client how you could have better met their needs. Take responsibility for any problem the client outlines and apologize.
Improve and reach out: Making amends in the moment can be difficult, and it’s likely that your client’s decision is final. Don’t let that deter you from reaching out at a later date, or keeping in touch. Rekindle the relationship slowly, emphasizing areas where you have improved. If your communication was lacking before, highlight the new field service management software you are using. If the problem was a specific sales representative tell the client what progress has been made on that front.
Ensure that you company is staying competitive and current so that clients don’t need to go looking for greener pastures. Staying modern by using the latest tools and technology is one way to ensure retention.