The following article originally appeared in the December 2012 edition of The Myers Report newsletter published by the firm.

 

The Easiest Way to Lose Clients

By Jane M. Myers, Esq.

Since 2006 when I founded Jane M. Myers, P.C., up until just a few months ago, we’ve maintained all of the firm’s bank accounts with a prominent bank.  We are a solid, steady customer requiring little attention.  We maintain, I am told, “respectable balances.”  When our bank relationship manager called suddenly to let me know that she was now working at another bank, I immediately considered moving our business there.

There was little hesitation on my part to switch.

I thought about that.  I had no qualms about leaving behind a 7-year business relationship that was integral to our business. Why was that??

Easy answer: I felt no connection whatsoever to our original bank.  Over the years, no one other than our relationship manager had made any real effort to get to know anything about us or our business.

Even though I had more or less decided to move our accounts, I was curious to see whether our original bank would make an effort to keep us. 

In our view, they missed every single opportunity.

What was remarkable to me was that after our relationship manager left, no one from our original bank ever contacted me to introduce us to our new relationship manager.  You’d think that would have happened right away.  I had no idea who would be servicing our account or who I should call regarding business I wanted to refer to the bank.  We were “orphaned.”

To add another kick in the pants, I was put through quite an annoying ordeal requiring multiple phone calls from me to various levels of bank personnel, written requests from me to close the accounts (they wouldn’t do it over the phone or accept email), and more follow-up on my part to make sure the accounts were finally closed.  I found the entire experience irritating, to say the least. It made me wonder how much other business they were letting slip away.

Despite all of these points of contact, not once did anyone ask, “Why are you leaving?”  “What can we do to keep your business?”  No one ever said, “We’re sorry to see you go.” 

OK…I got the message.

And then I thought…have I, on some level, ever done that with my clients??

Have you????

 

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Please note that this article is intended only as a general discussion and that it should not be taken as creating an attorney-client relationship or as legal advice with respect to any particular person, business or situation.  Circumstances and the applicable legal principles vary and you should consult with an attorney and/or other professionals concerning the facts of your particular situation.