Lost customer research

• Research has found that even if customers report good levels of customer loyalty (loyalty score of 7 or 8 out of 10), customer retention levels can still be very high.
• The real difference occurs, and customer retention levels significantly rise, if the business manages to go the extra mile and deliver an excellent customer satisfaction (loyalty score of 9 or 10 out of 10).
• The group giving a “middling” score often makes up the bulk of the customer base. It is this group who award passable but mediocre scores that are of greatest concern as their heads could easily be turned if some other supplier arrives on the scene with what seems like an attractive offer.
• We deliver you the insights you need to turn mediocre customer loyalty scores into excellent ones, help you significantly reduce customer churn and build long-lasting customer relationships.

Questions we will answer for you

• Understand how price and, in particular, your treatment of lost customers around price affects their propensity to leave
• Understand what role the competition play in your customers choosing to leave and go elsewhere (pull vs push factors)
• Understand how you could win back customers who have left
• Understand which of your competitors lost customers are going to and why

• Determine the role that channel plays in their decision to leave/switch
• Measure whether the competition has thus far delivered on promises and expectations
• Gain an understanding of whether a certain type of customer/segment is more likely to leave
• Determine whether the reasons stated for leaving change over time

What this means for you

A certain amount of ‘churn’ is to be expected within any business. However, with a large customer base, just a 1% churn amounts to a significant cost. Through a lost customer survey, you can truly measure the Return on Investment (ROI) if you implement the Lost Customer Research Program with B2B International.