Jay Holstine — How To Stop Losing Customers To Your Competition

It’s no secret that businesses can lose customers to their competition. In order to stop this from happening, it’s important to understand what your competition is doing that’s attracting your customers away. Once you know what they’re doing, you can work on implementing similar strategies to keep your customers loyal. In this blog post, Jay Holstine outlines some of the main ways businesses lose customers to their competition and provide tips on how to prevent it. Stay tuned!

1. Keep your promises

No one likes to be lied to, and this is especially true when it comes to businesses and customers. If you tell your customers that you’re going to do something, make sure that you follow through on that promise. Whether it’s as simple as returning a phone call or something more significant like completing a project on time and on budget, if you don’t deliver on what you say you’re going to do, your customers will take their business elsewhere.

2. Communicate effectively

According to Jay Holstine, part of keeping your promises is making sure that you communicate effectively with your customers. This means being responsive to their needs and questions and proactively keeping them in the loop about what’s going on with their project. If you’re not good at communication, make sure you have someone on your team who is and can act as a point of contact for your customers.

3. Offer value

In order to keep your customers happy, you need to offer them value. This could be in the form of discounts, bonuses, or simply providing them with a great product or service that meets their needs. If you’re not offering your customers value, they’ll quickly find someone who will.

4. Be available

Another important part of offering value is making sure that you’re available to your customers when they need you. This means having customer service available 24/7, being responsive to phone calls and emails, and offering live chat on your website. If you’re not available, your customers will go to someone who is.

5. Show appreciation

Make sure that you show your customers how much you appreciate their business. This could be something as simple as sending a thank you note or giving them a discount on their next purchase. Whatever you do, make sure your customers know that you appreciate their business.

6. Be flexible

Things change, and sometimes those changes are out of your control, says Jay Holstine. When this happens, it’s important to be flexible and accommodating to your customers’ needs. If you can’t accommodate them, be upfront about it and work with them to find a solution that works for both of you.

The average business loses more than half its customers to the competition. There are a few reasons for this, but according to Jay Holstine, most of it has to do with how businesses treat their customers. In order to keep your current customers and stop them from going to your competitors, you have to understand what they want and need. Offering excellent customer service is one way to make sure your customers stay with you.



Jay Holstine — Chairs a Vistage CEO peer group in Dallas Fort Worth and provides personalized CEO consultations for executives

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Jay Holstine

Jay Holstine — Chairs a Vistage CEO peer group in Dallas Fort Worth and provides personalized CEO consultations for executives