MBA1199 How To Learn From Cancellations and Refunds
When a customer taps out, it’s generally a sad, defeated moment. But not all is lost. Cancellations and refunds are going to happen, period. But each one is an opportunity to learn something that will improve customer retention going forward. There is great value in every loss, value you can reinvest into your business for a better long-term trend. The canceller can be your greatest teacher, if you’re willing to learn. Today, we discuss how to use your former customers to help your business evolve, grow, and improve. Whether you sell a physical product, service, or SaaS, every entrepreneur can use cancellations to shine a light on the product’s flaws. Then, it’s simply a matter of taking action. See every cancellation and refund as a bit of market research, not a defeat. Click Play!