I saw this article in the March 16, 2012 issue of Inc written by Geoffrey James on what do you do when you lose your biggest customer, and I had to pass it along to my readership. He broke it down into 5 steps that you need to take to win that customer back.
photo credit: andertoons
Here are the 5 steps:
1. Get Out of Denial
Do not assume you know what actually happened. If you ask buyers why they switched vendors, the reason is usually either “bad customer service” or “poor quality.”
2. Discover the Real Reason
If you don’t ask, you’re not going to find out. In other words, you must absolutely speak with the decision-makers who gave your firm the heave-ho.
3. Fix the Real Problems
If the problem is anything except the “the customer’s needs changed”–which, it turns out, is the reason only 14 percent of the time–then you need to address the issue that the customer surfaced.
4. Keep the Relationship Alive
While you’re fixing the problems, keep your former customer in the loop.
5. Revisit the Lost Customer
When you’re completely sure that you’ve addressed the issue, it’s entirely appropriate to ask the former customer to revisit the decision.
When you exhibit an honest effort to improve, most people are willing to give you another chance.
For the complete article, please read this.