Sharing Daily Discoveries About Personal Finance And Business Topics

Losing Some Long-time Customers Versus Having A Lot of New Ones

Unfortunately recently the web host had some major downtime again which is unfortunate as they recently had a huge outage not too long ago. This resulted in a few people expressing that they have been customers for over decade and expect more in terms of communication. Some people did leave though. In this latest instance it seemed like a lot more people are seeking services elsewhere and even for myself I am entertaining the idea of moving. It’s not even so much the downtime as opposed to the communication which seems non-existent during the event.

There were some comments that got my attention such as people cancelling their service and informing the host that their reason for doing so was due to the lack of communication. With that in mind they aren’t sure the company will change still. It made me think where usually in these cases a company wouldn’t sweat too much if they lose customers but at the same time generate new ones. But what if like here you were losing your customers that have been with you for over two decades as an example? Would you care if you lost that one person but still gained another three new accounts?

I know for myself I would be extremely concerned as that would mean change is necessary. People that have been with you forever usually understand hiccups and are willing to pay more knowing that you care to provide them the best versus just being a number. With this loyal base gone it probably will result in less referrals as well. That one loss can mean a lot more. That’s something you have to look beyond just plain numbers on paper to understand and appreciate.


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