“There is only one boss. The customer. And he can fire everybody in the company from the chairman on down, simply by spending his money somewhere else.” – Sam Walton
Because of the nature of business, it’s easy to forget that if we do not meet the needs of customers, they will simply leave. If they leave with an unsolved problem, they are liable to tell a whole bunch of people about their problem.
According to various studies, here is a breakdown of why people stop doing business with any particular person or company:
• 1% get injured, ill, or die
• 2% just disappear or get lost in the shuffle
• 4% move away from the area
• 6% change activities because of friends
• 9% leave because of cost
• 10% of people just love to complain
• 68% of customers leave because of indifference to them.
Let’s take a moment to look at that last statistic. Two thirds of all lost customers leave because of perceived indifference to them.
Perceived indifference is the leading reason customers leave.