There are many reasons why customers will leave a company: prices being too high, bad customer service, a drop in product quality, etc.
While companies spend a lot of money trying to get new customers to replace the ones they lost, research shows that you are better off trying to get your customers back.
According to Marketing Metrics, you have up to a 40 percent chance of winning back a customer, compared to only a 20 percent chance of turning a prospect into a buying customer.
If you want your customers back, you have to fix what drove them away. Thoroughly assess your policies, products and services for any issues, then find out why your business is no longer deemed the best choice…
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