{"id":24808,"date":"2022-06-22T06:33:42","date_gmt":"2022-06-22T06:33:42","guid":{"rendered":"https:\/\/transfergo.wpengine.com\/how-to-deal-with-losing-a-client\/"},"modified":"2024-10-29T20:43:42","modified_gmt":"2024-10-29T20:43:42","slug":"how-to-deal-with-losing-a-client","status":"publish","type":"post","link":"https:\/\/www.transfergo.com\/gb\/how-to-deal-with-losing-a-client","title":{"rendered":"How to deal with losing a client"},"content":{"rendered":"\n

Losing a client can be difficult for any business or sole trader. Whether they\u2019ve decided to back out for financial reasons or they\u2019ve chosen to work with one of your competitors, a business break-up can be tough and it\u2019s hard not to take it personally.<\/span><\/p>\n\n\n\n

But don\u2019t despair. Bad news can bring good things. Often it presents a chance for us to grow, develop and learn from any mistakes.<\/span><\/p>\n\n\n\n

Here\u2019s how to deal with losing a client.<\/strong><\/h2>\n\n\n\n

Learn from your mistakes<\/strong><\/h3>\n\n\n\n

If a client isn\u2019t clear on why they\u2019re ending their contract with you, kindly ask for any feedback. Be upfront and ask them why they\u2019re leaving and use any constructive feedback as an opportunity to learn from your mistakes and strengthen your business model for the future.<\/span><\/p>\n\n\n\n

Having client feedback<\/span>\u2014both good and bad\u2014<\/span>is integral to producing a successful business. But if they don\u2019t provide any feedback, don\u2019t obsess over why they may or may not want to work with you. Move on and do your best next time.<\/span><\/p>\n\n\n\n

Don\u2019t burn your bridges after losing a client<\/strong><\/h3>\n\n\n\n

Just because your client has decided to stop working with you doesn\u2019t mean they won\u2019t ever want to work with you again. Thank them for their business and support and let them know that they\u2019re always welcome to bring their business back to you.<\/span><\/p>\n\n\n\n

This might be hard to do at the time but this is the classiest way to end a working relationship. If you\u2019re rude or unpleasant, it could backfire on potential work in the future and the word could soon get around.<\/span><\/p>\n\n\n\n

Analyse your competitors<\/strong><\/h3>\n\n\n\n

When you\u2019re running a business, it\u2019s always worth making time to assess your competitors and what they\u2019re doing. Otherwise, how can you ever know if your services and charges stack up?<\/span><\/p>\n\n\n\n

Look at your competitors\u2019 strengths and weaknesses. What are they doing right? What could they do better? From there, turn your attention back to your business and how your products and services can eclipse theirs.<\/span><\/p>\n\n\n\n

Saturate your client base<\/strong><\/h3>\n\n\n\n

If a client loss has cost you big time, take this chance to saturate your client base. The stakes are a lot higher if you\u2019re only working with one or two clients that account for 50-100% of your income.<\/span><\/p>\n\n\n\n

Ideally, one client shouldn\u2019t account for more than 20% of your total income. By working things this way, you\u2019re putting yourself in a stronger position if you were to lose a client again in the future. If it were to happen again, it wouldn’t be the end of the world.<\/span><\/p>\n\n\n\n

Nurture your other clients<\/strong><\/h3>\n\n\n\n

Prospecting for new clients can be time-consuming and there are no guarantees. Instead, you might prefer to grow your business with your remaining clients. Take the time to evaluate each client and project and look for ways you can improve your services and potentially grow new areas.<\/span><\/p>\n\n\n\n

You may find that there are additional offerings and upsells you can provide. By expanding your services offering with your existing clients, certain things will be easier as you\u2019ll already have that established working relationship.<\/span><\/p>\n\n\n\n

Now that you know how to deal with losing a client, we wish you the best of luck with your business journey!<\/p>\n\n\n\n

______________<\/p>\n\n\n\n

If you need to send money to another business, TransferGo can help. Sign up<\/a> today for high speeds and low fees on international business money transfers.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Losing a client can be difficult for any business or sole trader. Whether they\u2019ve decided to back out for financial reasons or they\u2019ve chosen to work with one of your competitors, a business break-up can be tough and it\u2019s hard not to take it personally. But don\u2019t despair. Bad news can bring good things. Often […]<\/p>\n","protected":false},"author":7,"featured_media":24810,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1498,1500],"tags":[],"business_case_studies_tags":[],"class_list":["post-24808","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-business-tips"],"parsely":{"version":"1.1.0","canonical_url":"https:\/\/transfergo.com\/gb\/how-to-deal-with-losing-a-client","smart_links":{"inbound":0,"outbound":0},"traffic_boost_suggestions_count":0,"meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"How to deal with losing a client","url":"http:\/\/www.transfergo.com\/gb\/how-to-deal-with-losing-a-client","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/www.transfergo.com\/gb\/how-to-deal-with-losing-a-client"},"thumbnailUrl":"https:\/\/www.transfergo.com\/wp-content\/uploads\/2022\/11\/220413_Blogs_April_HowToDealWithLosingAClient-1.jpg?resize=150,150","image":{"@type":"ImageObject","url":"https:\/\/www.transfergo.com\/wp-content\/uploads\/2022\/11\/220413_Blogs_April_HowToDealWithLosingAClient-1.jpg"},"articleSection":"Business tips","author":[{"@type":"Person","name":"Jennifer Tate"}],"creator":["Jennifer Tate"],"publisher":{"@type":"Organization","name":"TransferGo","logo":""},"keywords":[],"dateCreated":"2022-06-22T06:33:42Z","datePublished":"2022-06-22T06:33:42Z","dateModified":"2024-10-29T20:43:42Z"},"rendered":"