Most of us understand The First Law of Customer Retention, which states if you do something that pleases your customers you give them a reason to keep doing business with you. We even understand the First Corollary to this law that says the more we please our customers, the more reasons they have to return. It seems, however, that few of us understand The Second Law of Customer Retention which states if we stop doing something that pleases our customers we do not just remove that reason, we give them a reason to take their business elsewhere. Of course, the more reasons we give them to leave, the less likely it is they will stay.
Would your customers say your business is following The First Law of Customer Retention or the Second?
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