Exit Interviews and how they can change your business…
Exit interviews are a market research method that are often conducted by retailers and service providers with a physical presence and involve interviewing departing customers, just before they leave to assess their reaction to their visit.
While customer satisfaction surveys are certainly an important part of the research process they tend to be done outside the retail environment and therefore may not provide an accurate assessment of the experience. Often it is the customers that leave that can help you formulate ways to improve retention. That is why companies often do exit interviews with customers that are no longer planning on shopping or working with the company.
Clearly the main reason that exit interviews are so successful is that they allow you to learn about why people are leaving, why they are choosing to spend money with the competition, etc.
The more you learn about the customers or employees that are leaving your business, the more you can stop those losses and try to re-shape your company to connect with people before they have lost their loyalty.
It’s nearly impossible to change someone’s opinion overnight – especially when you have already lost them as a customer – but you can at least help your company look better in the eyes of the person leaving. The exit interview shows the customer you care. You can also offer something to the customer that may help them come back someday, or at least say something that helps them speak positively about you to others.