It is all well and good to re-contact your favorite clients and discuss why they continue to do business with you. However, as a customer retention strategy, you are selling yourself short.
Targeting win loss insights creates a platform for continuous improvement. Even when your own company is ignoring what is obvious to customers and competitors.
Continuous win loss insights captures your clients’ voices.
Determine elements of your own sales strategy which are critical to customer success and customer retention. Discover gaps which are overlooked. Consider that the root causes of failures in product and service delivery may be very small issues with very large consequences.
You won’t determine these insights if you wait for “someone else” to glean these win loss insights for you. As a Salesperson of Worth, you are closest to current and prospective customers. Work hard to earn their trust. Then, they will be comfortable having conversations with you which may be uncomfortable for you both.
Capturing individual client’s voices creates the Voice of your Customer Base.
Create a customer retention strategy which targets win loss insights. Share insights gleaned from similar conversations across your customer base. This broad-based knowledge sharing strategy is valuable.
This dialogue catalyzes an entirely different level of customer conversation.
You are not sharing confidential client information. You are looking at trends and common issues across your entire, diverse customer base. Look at customers as segments of a whole, rather than individual objects of sales pursuits. Turbo-charge your own sales smarts and thought leadership growth, in the process.
You always have time for curating your win loss insights knowledge base.
No excuses please. Continuously target insights about your win loss track record. Change the way you acquire new customers and retain existing ones.
You always have time for self-improvement, don’t you?
Become more proactive and anticipatory when you incorporate this strategy into your customer retention game plan. Clients will share their own challenges with you long before your marketing and sales departments pick up on these small tremors in the business ecosystem.
Make small changes to your business acquisition and retention strategy which have tremendous impact on customer success and customer retention. Target continuous win loss insights into your sales conversations as part of your normal business processes.
It won’t take you long to start having those “Aha!” conversations that only targeting win loss insights can deliver. What are you waiting for?
Babette Ten Haken is a management consultant, strategist, speaker and coach focused on customer success for customer retention in the industrial Internet of Things ecosystem.
She traverses the interface between human capital strategy for hiring, developing and implementing teams of collaborative technical, engineering, sales and business professionals. She serves manufacturing- and engineering- intensive companies, catalyzing teams to create enduring business outcomes. Babette’s playbook of technical / non-technical collaboration hacks, Do YOU Mean Business? is available on Amazon. Visit the Free Resources section of her website for more tools.