As sales professionals begin a new year, many will set new sales goals. While setting these goals can be productive, you should focus not only on improving sales, but also on taking time to understand why you lost clients the previous year as well. Addressing existing issues can impressively drive sales for years to come.
Clients may have left your business for several reasons, the simplest of which is price. Sales professionals know that someone will always underbid them. Instead of lowering prices, you should focus on building value and demonstrating to clients what paying extra gets them in the long term.
Taking clients for granted can also drive them away. With strong communication skills, you can simultaneously identify existing clients’ needs and express appreciation for their business. Open communication builds lasting and loyal business relationships.
One of the worst transgressions against a client is breaking a promise. If you make a promise that you cannot fulfill, clients will almost certainly take their business elsewhere. On the other hand, clients tend to value openness, honesty, and willingness to compromise. Bait-and-switch tactics are one of the quickest ways to undermine client loyalty.