Why does a customer lose interest in your product?
Post-sales or pre-sales? I’ll just assume both.
Let’s first talk about post-sales interest being lost, also known as customer turnover or customer attrition. This is when a customer no longer wants what you sold to them, and never comes back to your store, cancels their subscription, doesn’t finish your online course, etc.
What causes that, and ergo how do we prevent it?
Recent surveys show that customers are getting less loyal to brands. One main reason is the availability of multiple options for the same type of products in almost any market. Back in the 50’s, or even the 1990s, TV was so common that people were much more familiar with whatever was the mainstream, televised option for anything.
Nowadays, if you want not just ordinary bathroom soap, but instead perhaps novelty soaps to give to somebody as a gag gift, you can imagine any kind of weird fragrance (durian, perhaps), find someone who sells it online, usually multiple people, and order as much as you want from whoever you want. There are fewer and fewer businesses now that stay at the top solely through brand recognition, because there’s simply so many other options that everybody is talking about on social media, all the time.
All this is to say: just because someone buys from you doesn’t mean they’ll keep buying over and over, especially not in the modern climate. Per my experience, the following five issues can make a customer lose interest in your product after a sale:
#1 Improper customer service: Poor customer service will poison someone against your product, even if it is perfect for them. You eventually will want to get a strong support team to respond swiftly and appropriately to any customer questions, comments, and more, so that the responsibility isn’t all on your shoulders.
#2 Product/service didn’t meet expectations:Under promise, over-deliver. Don’t make false commitments while selling a product. If you want real protection against this problem, the only way is to be a great business, to offer something that really does over-deliver compared to the competition. Until then, be excited but not to a misleading degree, in your marketing.
#3 The value of the product was not properly shown:
On the other side of #2, prices create expectations. If you didn’t show the value, and your price is not super low, then it is likely that a customer would lose interest in the product and not consider it very good no matter what, because it doesn’t cost enough to feel legitimate $X and it doesn’t seem to do enough to solve their specific problem.
The solution to stop customers from getting into that mindset is to identify the USP of your product. Lead with this unique selling point and make it something that no one else could possibly offer. Then price yourself in respect to that USP. Defend your product value, and you’ll defend your price at the same time.
Now, I am not sure if these apply to you, but they are worth mentioning here as possibilities.
#4 You don’t understand the psychology of your customers: Before selling a product, you should understand the psychology of your customers. You need not get a formal degree or something, it just comes with experience. I write frequently on such topics, so stay updated with my website for more on that.
#5 Your sales tactics are inadequate/outdated:
Might seem obvious, but it’s worth mentioning. Don’t mislead customers, don’t get too assertive and talk too much, little things like that, which again, come from experience.
The above five reasons are not the only reasons, but these cover most situations.
Now then, for the other possibility. It’s possible you were asking not about post-sales attrition, but pre-sales customer objections. The kind of stuff that causes a sale you have in the bag to leap back out at the last minute, and you can’t understand why the customer cooled down so fast.
I have experienced those objections in my own sales experience and the experience of others and found that if those objections are not handled properly, then they will keep showing up to hamstring your sales numbers. After thorough research and the inputs from field experts, I have made an article that discusses those objections and their solutions. Many salespeople and businesses have gotten better results from the points discussed in that post.
You can read: 5 Deep-Seated Customer Doubts That Kill Your Sales (And How to Erase Them), on my website.
In conclusion, whether you mean post or pre-sales customer interest, the tips above should be able to help. For post-sales, improve the post-purchase phase of your customer journey. For pre-sales, master objections and get more experience closing sales.