Most research and training in sales focuses on acquiring customers, but, as ecosystems become increasingly dynamic and discontinuous, it’s also important to focus on winning back customers you’ve lost.
How B2B Companies Can Win Back Customers They’ve Lost
Get ready to accommodate their specific requirements.
June 03, 2019
Summary.
Because of current trends, customers are constantly re-evaluating their relationship with suppliers and making changes. Losing these customers is increasingly costly. The process for reacquiring a customer requires a different approach than acquiring new ones. In our study of 26 broken customer-supplier relationships, we found that companies that had successfully won back a customer followed a similar pattern. They identified the reasons for the initial dissolution, applied the right cost-benefit analysis, conducted an honest conversation with the customer, and accommodated their specific requirements.
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New!
HBR Learning
Marketing Essentials Course
Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Marketing Essentials. Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.
Learn how to communicate with your customers—strategically.