We all worry about losing customers. Some are worse than others. We can survive losing a small client but what about the one that accounts for 10 percent, 15 percent or more of your business? Wouldn’t it be great if there were signs to tell you when a client was going to leave? Fear not, here are hints to help you be pro-active, or least, prepared for the client about to disappear.
Your Client is Avoiding You
Lack of communication can sometimes be a client’s business style but can also be an indication of trouble. If a client’s style changes for the worse, be on guard. They may have lost interest in the project you’re working on, decided you’re not doing it right or decided, for whatever reason, that you’re not right for the job. Being forewarned gives you time to adjust your procedures and processes to make your client happier.
Your Client’s Industry is Suffering
It’s a good idea to keep track of what’s happening in your client’s world. Every industry hits rough stretches like the current growing number of recalls in the auto industry. When things are in flux, clients tend to pull things in-house to save money. This, not the time ignore your clients. Pay extra attention to them, show them why they are better with you than without you.
Payments are late
Everybody hates being paid late. We have bills to pay as well. Aside from being annoying, they can also be a sign that your client is in financial trouble. If a client is having trouble keeping up with payments to you, odds are they are having trouble paying others as well.
There is a Change in Leadership
Every leader has a pocket full of vendors they have worked with before that they know and trust. You, they don’t know from a hole in the ground. When the new management takes over, it’s time to make an appointment for a show and tell them what you’ve done for the business in the past and what you can do for them in the future.
You Fix your Client’s Problem
This may seem counter-intuitive but doing a good job for your client could cause you to lose them. Why? They may feel that they don’t need you anymore. This can be something you can work on before you finish the job. Talk to them about what else you can do for them.
Losing a client isn’t necessarily the end of the world. Sometimes it’s unavoidable, but often you can change the outcome. Just keep your eyes and ears open.