My wife recently made the comment, “I wish we could have a DO-OVER with that”, she said it in a joking manner and given the context of the conversation, it was quite humorous. I won’t go into the details of what it was about but it got me thinking about Walker's area of expertise, customer strategy consulting.
What if your customers had the chance for a “do-over”, a mulligan, if you will? Would they still choose you? We live in a time when you are only as good as your last 10 minutes. How have you been performing for your customers over the last 10 minutes? Would they make the same choice to be with you if they could go back to the beginning of their relationship with you?
We work to assist our clients with the complex relationships that they have with their customers and one of the many areas where we assist is guiding them on how to take action based on the segments that their customers may fall into, even if they are “Truly Loyal” to your organization (keeping your clients Truly Loyal is just as important as getting them there!). What if your customers were Trapped, meaning that they probably plan to stick with you, but may have reasons for not being happy? The contact person does not want to (or is indifferent to) continue working with your company, but will have to do so for the time being. They could switch to your competitor if and when they get the chance.
You should continually challenge your organization with this concept. Would your customers choose you again, knowing what they know about you now? Many times, our clients are very surprised at not only the % of their clients that show up as Trapped, but which clients actually feel trapped.
For some companies, it is a wonderful thing that their customers don’t have a “do-over” button based on the simple fact that they may not choose you again! You control this, you can address this and ultimately, it’s the right thing to do. Listen to your customers. Are they trapped? If so, do something about it, otherwise they could eventually be known as a “former customer” with the first opportunity they have to move on.