After all the work that it takes to close a new customer, losing an existing account makes you want to pull your hair out. Here is a five-step process to help bring that lost customer back into the fold.
Five Steps to Regain a Lost Account
- Have a conversation with the customer. Determine the specific reason that your customer is leaving.
- Do a little sleuthing. If the customer is reluctant to share negative comments with you, research within your own company to see if you can determine why the problem arose.
- If you can fix it, do! If the problem is something within your control, such as change of project management or adjusting payment terms, figure out how you can make the concession.
- Propose a fix. After determining the solution present it to your customer.
- Be sure this is an isolated problem. Whether or not you’re able to save this customer, be sure this problem isn’t part of a larger pattern setting you up to lose additional customers. If you find similar situations, act quickly to repair the problem.
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