Trust is the foundation of the seller-buyer relationship. Customers will likely make repeat purchases from a business that they know and trust. Unfortunately, this trust is conditional and might break the moment you failed to deliver your promises. According to a recent study, 58% of customers switched to a new brand. While you can ignore lost clients and attract new buyers, it is the least effective method to boost your sales and grow your business. Research shows that you have a much higher chance of selling your products or services to previous customers than to someone who has never done business with you before.
Whether you own a custom plastic molding business, a clothing brand, or a restaurant, breaking your customers’ trust means losing their business. But like disagreements in any relationship, your customers might be willing to give you a second chance. Here’s how you can regain their faith after a setback.
Discover the “why.”
The initial step towards any redemption journey is to look inwards and discover the fatal flaw. Find out what you did or what you didn’t do that push your customers to leave. Only 4% of displeased customers voice out their complaints directly, while 96% share their dissatisfaction with the digital world and their network. Then they move on to a competitor. Thus, you always have to collect customer feedback through automated surveys and follow up. Some customers talk about their complaints on online platforms, so you should also monitor review websites.
Offer a solution
It’s a universal gesture to apologize when you’ve learned your faults, but you should take action to avoid the same failure in the future. This way, you are showing your customers tangible proof that you’re taking their concerns seriously. When they’ve given you a chance to redeem yourself, make sure to deliver excellence at all costs. Otherwise, your second attempt will be a failure, and you will lose your customers’ confidence. When you’re making a change, request feedback from your customers. Ask them if they are satisfied with the current resolution or if you can do anything to improve their experience.
Give compensation
Addressing the issue is not enough to appease dissatisfied customers. You should go beyond their expectations and offer additional incentives to show your remorse. A gift, whether its a coupon, free stuff, cash cards, discount on next purchases, or store voucher, is a powerful way to redeem yourself. You must remember to give compensation immediately after a service failure so that they will be willing to provide you with a second chance.
Consumers’ trust is hard to earn but very easy to lose. One minor mistake can drive them away from your business, and they will voice out their complaints to other consumers. While this action might seem rude, it can be a blessing in disguise for your company. It will trigger you to discover your areas of improvement and gives you the chance to do it right in the future. When you made a mistake, stop making excuses and always take full ownership. Remember that genuine empathy will go a long way in rebuilding a damaged relationship.
