It’s uncommon to abruptly lose all of one customer’s business. Most of the time, customer defection happens slowly, in stages over time, but often goes unnoticed until it’s too late to salvage the relationship.
This presents both a challenge and an opportunity for B2B companies. In this six-minute, on-demand webcast from SellingBrew, Editor-in-Chief Rafe VanDenBerg discusses how companies can spot three types of costly customer defections while there is still time to correct course and talk to the customer about it.
Why should you pay attention? According to the 2002 book Leading on the Edge of Chaos by Emmet Murphy and Mark Murphy, a two percent increase in customer retention has the same effect as decreasing costs by 10 percent.
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