Attrition Rate for Losing Customers

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Lesson Summary:

The loss of customers happens in every business, it's a natural occurrence. However, there needs to be a reason why a customer leaves you and you need to find this out, particularly if this is an A or B customer. 

Review your lost customer base (your D customers) and then have a strategy to win them back, leaving potential C customers alone.

What You'll Learn In This Lesson:

  • How to calculate the percentage of customers attrition rate per year.
  • Identify the reasons for losing customers and fix this problem.
  • Opportunities for marketing leads.


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Video Transcript

Formulated Worksheet

It's recommended to keep your download as a 'master' and work with a 'copy' for your exercises.

Homework Assignment

Taking action moves you forward
to achieve the outcome
YOU want.

Let's measure your progress with this Quiz . . .

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Frequently Asked Questions

How often should I do this exercise?

Every 6 months.

What percentage is within normal for losing customers each year?

Below 10%. However, whatever percentage lost must be over-taken with new sales.

I'm afraid to approach lost customers?

If you know the reason for losing them and you can justify why they can return, you owe it to your business to try.

Why should I bother to get them back?

If these were A or B customers, you already know their profitable value and how much this would mean to your profits. 

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Fran Piggott

Fran Piggott

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