Lots and lots of articles abound on why customers leave you and go elsewhere. Some are way too general for any serious consideration but others make you think. A study by the American Society of Quality has shown the top six reasons for defection. The reasons are shown below:
What is interesting here:
- Competition is only 10% of the issue – not the one we generally hear as the main excuse
- Social media does NOT influence customer defection behavior as much as you would think – just 5%
- The biggie is a defection in the provision of what customers want!!
Your company and offer is by far the biggest reason customers will stay or leave. It’s not so much the competition winning your customers, rather you losing them – and getting customer feedback early is the key.