5 Reasons Why You Lost Most Of Your Customers Last Year

5 Reasons Why You Lost Most Of Your Customers Last Year

I won’t sugarcoat it: last year was a roller coaster. Several businesses grew rapidly and expanded into new areas. However, there were also some businesses that barely pulled themselves out of the hole. In this guide, I am going to share 5 reasons why you may have lost most of your customers in 2021. If you were or still are making these mistakes, this guide can increase your productivity by at least 50-60%.

You might have noticed that in the past, you would get a large number of customers, but recently that number has decreased greatly. This is because of the fact that the number of service providers was much higher than the number of customers. Consequently, the competition for the attention of a few customers had increased enormously. Small and medium businesses, as well as startups, suffered a lot since they didn’t have the resources to compete with big businesses or a customer database. It is a situation that you may be able to relate to if you are a small/medium business owner or an entrepreneur.

Many businesses were shut down or employees were laid off. This is something I experienced for myself because I was one of those people. I hate it. Luckily, I also had one thing in abundance. Time. So, I utilized this time to explore what other factors, besides this global pandemic, contributed to most of the businesses losing their customers. This guide will explain why most businesses lose customers despite having a good product/service, and I hope you find it useful for your future endeavors as well. 

Many businesses were shut down or employees were laid off. This is something I experienced for myself because I was one of those people. I hate it. Luckily, I also had one thing in abundance. Time. So, I utilized this time to explore what other factors, besides this global pandemic, contributed to most of the businesses losing their customers. This guide will explain why most businesses lose customers despite having a good product/service, and I hope you find it useful for your future endeavors as well.

With that being said, let’s look at the reasons:

1. Didn’t Had Enough Exposure

online presence

2021 taught us many lessons. One of them is: How important it is to have an online presence. People neglected the fact that besides having a brick & mortar shop, they also need to have an online presence and 2021 showed why. When a large portion of the population was sitting at home, they spent most of their time on the internet for almost all their needs. What they see the most, they opt for it. Hence, it is very essential to have an online presence. A good, easy to navigate website can increase the chances of getting a customer by at least 20%. You can later boost your online presence with a customized marketing strategy using any digital marketing tool like PPC, Social media marketing, SEO, Email, etc.

2. Too Many Steps To Convert A Visitor Into A Customer

convert customers

Alright, now you have a website and good website traffic. That means people are finding you, your marketing strategies are working. Yaaaayyy!! But wait a minute, where is the business? After spending a fortune, energy and time on digital marketing strategies and a website, you still are not getting customers. What’s wrong? To understand this and find a resolution, you need to start with a very basic step, a website audit.

While auditing your website, you can ask these questions to yourself: 

  • What your customers are looking for?
  • Are all your services/products available on your home page?
  • How many steps are there to finally opt for your product/services?
  • In case you do not provide what they are looking for, what alternative or solution can you provide?
  • Are you displaying testimonials from your existing customers?

There are other questions you can ask while auditing your website. All you need to do is provide the answers to most of them either on the home page or on a dedicated page.

3. Rely On One Source Of Customer Acquisition

sales funnel

I am sure you must have heard this term- The Sales Funnel. If not, then let me explain it to you in simple words. Before opting for any product or service, your customers go through multiple stages in which they research and compare. These stages are known as a sales funnel. At each sales funnel, they have different questions in their minds and to get the answer to these questions, they use different platforms like search engines, social media, friends and relatives, etc. What if they are using a platform and they didn’t see you? Or what if while they are researching, they see your competitors more often than you? Then what do you think their decision would be? Whom will they choose? You and I already know the answer.

That’s why, it is super duper important to use multiple platforms to display your business. Do not rely on one or two sources.

4. Not Answering One Basic & Most Important Question

why choose you

This question has haunted so many agencies, freelancers and business owners for a very long time and the funny thing is, there is no correct answer to this question. And the question is, Why should they choose you?

That’s right, you heard this before and you hear this very often. As we already know, the number of service providers is more as compared to the number of customers. It means, your customers have multiple options to go with. Then why should they choose you, not your competitors?

You can answer this questions in various ways. Here are some tips:

  • Try to highlight your USPs. There must be something you have or do that your competitors don’t. Highlight those pointers, but do not lie.
  • Have a FAQ section or page, so that your customers can get the answers to most asked questions.
  • Display testimonials of your existing customers on the home page.
  • If possible, try to run offers, discounts or promotional events. You can also give some freebies.

Also Read: Learn these 8 little known secrets today to get the best reviews on Google, How To Create A Powerful Marketing Strategy in 2022

5. Have No Idea About KPIs & Metrics

kpi & metics

This is the most common mistake that most of the business owners make. They have no friggin idea of their success KPIs and Metrics. If you do not know what went wrong, then how will you fix it? You have to give time to your marketing strategies, do some A/B testing, try new variations and platforms. While doing this testing, you need to have a clear idea about your KPIs depending upon your goals. Sit with your marketing person or team, have a discussion about your goal, KPIs and strategies that he/she/they are about to implement. Use the data to create a plan for your next strategy.

 

Also Read: 5 Golden Rules to Follow for a Successful Ad Campaign, 10 Kick-ass Digital Marketing Strategies For Small and Medium Business Owners-2022

Conclusion

Everyone wants to get business and this year will be full of new search engines algorithm updates, new marketing strategies and customer search patterns. Take a closer look at these reasons and analyze what went wrong last year and what you have to do this year to grow your business.
I hope this helps.