1. Pushed away; wherein the customer and the company weren’t able to foster a good relationship. It’s also possible that your company failed to provide what they needed or there was a service failure that you failed to resolve ultimately leading to loyalty loss.
But let’s say you were able to help them achieve their goals, as the customers continue to achieve their goals with you, their needs gradually change. Once you fail to fulfill the customers’ growing needs, this can also drive them on choosing another provider and leaving you.
You can learn more about Change Management on our Certified Customer Success Management Basic Practitioner Course here: (link to CCSMBP)
2. Pulled away; your company may be able to achieve the customers’ expectations and growing needs. You are also providing the best support and even proactively meet the client to identify room for improvements. However, it is important to keep in mind that satisfied customers are always on the lookout for something better. Once these customers were able to find a better option somewhere else or found a better relationship with the competitors’ sales representatives, they may choose to trust the other provider.
3. Priced away; herein, the customers have found a provider of products or services that offers them exactly or more than what they needed. As customers are naturally drawn to something more affordable that provides them with their expected value, it is not a surprise that they will leave a company to choose what they think offers them something better at a cheaper price.
Customers that are pushed and priced away had better chances than those who have pulled away where a customer established a good relationship with another provider, according to the study Why Return: Using Behavioural Research to Win Back Lost Customers. This shows how important fostering a healthy and right relationship between clients and the company’s representatives is in retaining customers. Depending on the reason why customers chose to leave, the response to effectively bring them back also varies.
Before we proceed to answer how we can win back lost customers, please note that bringing back customers isn’t part of the main responsibilities of a Customer Success Manager. Nevertheless, understanding what drives customers to leave and the ways to bring them back can help you in formulating strategies that keep the customers from leaving. Now that we addressed that, let’s continue and talk about the three ways to bring back lost customers.