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Comments

Kevin

I agree with everything in your post with the exception of this last comment (if I'm understanding what I think you've said anyway).

In preparing for a presentation on Winning Back Lost Customers this past year, I came across reference to a study by Marketing Metrics that stated you have a much better chance of winning back a lost customer versus bringing in a new one. According to what I read, it's almost a 20 to 40% chance versus a 5 to 20% chance.

The ability to win back lost clients (and retain more of them in the first place) is the hidden gold mine for most small businesses.

I realize I'm spouting this off out of context, but this makes sense when you consider that the primary reason that companies' lose clients is due to lack of contact or indifference. That's the number one reason by an overwhelming majority by the way.

Therefore, the best piece of advice that I could add to your list is to have well thought out follow-up and stay-in-touch processes in place.

The two types of clients you're most likely to win back are those lost to lack of contact or benign neglect, and then those pulled away by a competitor for reasons other than price.

Your suggestion to regularly look at everything you do that contacts the public is very good advice. A small business could make huge growth strides by following this one piece of advice.

Cheers!
Kevin

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