Nov 02 2021| Leadership | leaders
by Phil Eyre Leaders' Founder
5. Loss of *good* clients
When a company is sick, good customers leave. They will sense and sometimes experience the symptoms of the company’s ills and go elsewhere. Perhaps they’ll leave because of an admin error, or failure to deliver on time, or for receiving less attention, or being overcharged - but leave they will.
In our work, we challenge our clients to think of the conditions that determine whether their relationships with customers, or a segment of customers, are enjoyable or not. We then ask them to assess the quality and stability of those relationships. If good customers are leaving, whilst less-enjoyable customers are growing, that’s a sign to us of an unhealthy company, if not now, then in the future. If ‘bad’ customers are leaving, that’s a signal of health (perhaps future health).
We often find that leaders need to take the initiative with ‘not good’ customers to either change or leave; they rarely leave willingly. Good customers, however, are typically more mobile and will leave. Likewise, they are a fabulous source of great new work *if* they trust and enjoy your company.
To read the sixth symptom of a sick company, click here.