When business starts to dry up it can be a worrying sign. You may have once enjoyed a steady stream of customers, but now something has changed and it’s causing you to lose customers. Identifying this change will help you to fix the problem so that you can start attracting customers again. Here are just five reasons as to why you may be losing customers.
Your competitors have stolen them
It’s possible that your customers may be choosing one of your competitors over you. This may be due to better pricing or a better range of services. It’s possible a new competitor may have moved in or perhaps an old competitor has improved their business model. Whatever the case, you need to find a way to win those customers back. Outdoing your competition is one way to do this – you could aim to beat their prices or offer more selection. Alternatively, you could find a USP that separates you from your competitors – this involves finding the gap in the market and exploiting it.
You’re not evolving with the times
Another reason you could be losing customers could be because your methods are now old-fashioned. You may be choosing outdated marketing mediums such as advertising in the phonebook and using flyers rather than taking to social media and using a website. Alternatively, you could selling a product or service that is no longer popular or in demand. Find a way to bring your company into 2018 by embracing new technology and jumping on new trends.
Your website ranking has dropped
Website rankings can play a major part in gaining new customers. If your website ranking has dropped, customers may be less likely to stumble across you. A lot of factors can cause your website rankings to drop – your best option to improve your rankings is to invest in SEO (Search engine Optimisation). A digital marketing will be able to try and boost your rankings and help boost business once again.
Your quality is slipping
It’s possible that your company’s quality may have started to slip. This could be due to complacency, new staffing or machinery faults. Existing customer are likely to stop using your services if quality slips – start winning them back by taking measures to restore quality control. Take customer feedback on board and ensure that all your staff are thoroughly trained to a proficient level.
Bad reviews are putting customers off
On the topic of customer feedback, bad reviews online could also be putting customers off. These could be down to a fault in quality or they could be malicious reviews written by competitors. Whatever the case, it’s important that you don’t let these bad reviews run your reputation into the ground. Try to counterbalance these negative reviews with positive ones by encouraging every happy customer to leave a glowing review.