Did you know that the #1 reason that your customers leave you and take their business to your competition is because of “Perceived Indifference”?
It’s true! Most customers make a decision to “switch” from one provider or one supplier to another because they don’t think it matters to the business or individual they are working with right now. Doesn’t that seem crazy?
I would bet that most business owners would say that the reason a customer would leave them is to find a lower price or to get more services at the same price. But the reality is that is not the case.
How do I know for sure?
Well, aside from the studies that have supported this finding, I had a very real, personal experience just this past week. Let me share this story that I hope you will find compelling.
I needed to make a change to my cell phone data plan so I stopped in to the AT&T store near my home. While in the store, the customer rep working with me asked if I had a home security system. I said that I did and that I had been with the same company for nearly 10 years!
He then proceeded to tell me about the services they had for home security and the special features that were part of the “home security package”. And while he was sharing with me all the great new features, bells and whistles, I began thinking to myself that my system costs just as much as the one he was describing but I don’t have ANY of these cool features – no remote access, no cameras, no cell phone app to give me status and keyless entry – on and on and on.
Before I knew it, I was signing the papers to change my home security system from my old provider to a new one. I knew this was going to be a hassle, but the new system features were going to be worth it!
So when the day came for the new system to be installed, I placed a call to my old provider to ask how to terminate the service with them. They asked a few questions about why I was leaving and what service I was going to be changing to – typical exit interview questions. Once we finished, I terminated the old service and was ready to move on to a new, fresh, high-tech security system!
Then a few days later, I get an email from my old provider – from the owner himself – explaining that he was sorry to see me leave after being a loyal customer for so long. He also shared that they now had the very same features on their system and if he had only known that I was looking, he could have converted us to the new service – and at a price that was CHEAPER than the one I had just installed!
Now I’m not sure what your reaction would have been, but mine was something like “Why are you telling me this NOW? Why didn’t you inform me of the new features and upgraded options BEFORE when I was STILL a loyal customer? Why did you spend your time trying to get NEW customers while not taking the BEST CARE of your EXISTING customers?”
Needless to say, I was angry! I was frustrated! I had just put myself through the nightmare of changing the entire system just because my current provider didn’t care enough to help me make a good decision – he waited until it was TOO LATE!
I believe this is not an isolated situation. It happens all the time. Many business owners spend more time looking for new customers than they do serving those they already have. They see their current customers as a “pain” and not worth the effort – until all of a sudden, they leave! And why?
Because of Perceived Indifference! Who knew that you even cared? How would I know you cared? All I got was a monthly invoice, and so long as I paid, everything was good – no worries, no hassle, no issues.
Well, now I’m a “new customer” to a new provider. I wonder how long it will take them to become “Indifferent” and not care if I stay or go?
Don’t let this happen to YOUR CUSTOMERS!