Lost customer analysis
By using lost customer analyses gaps and shortcomings within the service portfolio can be revealed. Lost customers or customer categories (that is customers that do not purchase any products/services from the company any more) are asked about the reasons for their discontinuing the relationship. By doing so it is possible to find out which products/services are in need of improvement and which shortcomings are to be corrected most urgently.
In addition trends for further customer requirements and competitive offers/performance derive from this analysis. The lost customer analysis provides information about how to win back these interviewed customer categories. Companies should conduct this analysis as often it is more cost-efficient to win back lost customers than to acquire new customers.
See also:
Customer relationship
Customer survey
