Catching a Loss Before It Happens | Sales Strategies

I’ve been emphasizing to a number of clients the importance of creating an “early warning system.” It’s a system that helps you identify and prevent client departures. And one of the biggest warning signs or triggers we have discovered is engagement. Specifically, a reduction in engagement or a dramatic change in engagement style.

Change in Engagement Style 

For example, our clients now have come to recognize that when their customers start calling and making inquiries about orders, pricing, or past deliveries, it’s a sign that maybe they’re reassessing doing business with them and looking at the competition. Thus, when this happens, it’s important to address it.

Reduction in Engagement 

Additionally, our clients have found that a lack of engagement is also a perilous trigger. It used to be that no news is good news. However, now, our clients have indeed found that no news is bad news. In particular, they have discovered that if a customer stops calling, asking questions, responding, or reading their newsletter, it’s a sign that they might leave. Thus, when this happens, it’s imperative that you improve your relationship skills and look for solutions.

It’s crucial to pay attention to the two aforementioned early warning triggers. Always ask yourself if your customers are engaging with you at the same level and way. If not, that could be a sign that they’re looking to defect.