This summer, we’re sharing articles we’ve found particularly insightful. This article from The Financial Brand explains why it’s just as important for you to understand why clients leave your company as it is to know what makes them do business with it in the first place.
Marketers are generally focused on attracting new business. However, in order to be effective, it’s critical to find out what’s driving customers out the door. In other words, understanding client attrition is just as important as acquisition and retention. While this article primarily focuses on banking, the concepts in it can — and should — be applied to virtually any financial or professional services or technology company.