The Cost of Losing Just One Customer

By Lori Richardson Aug 3, 2005, 1:51:00 AM

After writing about my contact lens saga, I was pleased to see these facts in my inbox - facts we have all heard but bear repeating, courtesy of Douglas Publications:

Is losing one customer really a big deal? You bet! When one customer has a bad experience with your company, they will tell 11 people about the poor service, and they will each tell five more people. If only 25% of those people decide not to do business with your company, that's still 17 lost customers -- and potentially $1 million in lost revenue over their lifetime.

Regaining those "lost" customers is much more difficult -- and costly -- than simply keeping them happy and loyal.

So maybe we all need to do a mental review of July (or 2005 in general) to see if customers were thanked, appreciated, and made to feel special. I know that is all I want as a consumer. And know by doing this, you can also position a referral request.

Written by

Lori Richardson

Lori Richardson is Founder & CEO of Score More Sales, a top B2B sales strategy firm helping mid-sized companies grow revenues by solving key sales issues - like recruiting, retention, building an inclusive sales team, process, pipeline, and leadership. Lori is also the President of Women Sales Pros - a community created to increase the number of women in sales, as well as in AI-powered and sales leadership roles. She speaks to CEOs on topics such as sales growth, the power of mindset, and the importance and value of a strong sales culture. Clients include companies in the technology, telecom, manufacturing, distribution, and professional services industries. Salesforce named Lori a Top Sales Influencer in 2021 - 2025. Lori has been named a top sales influencer over the years by LinkedIn, as well as many other companies and organizations. Her book, She Sells, is on hiring more women for B2B sales roles. Subscribe to the award-winning blog, follow her on Instagram, X, and LinkedIn.

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