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Failure Of Lost Revenue: Why This Is Happening?

by Nathaniel Cooper, on Jul 22, 2019 10:37:00 AM

You ready for a terrible story?

This is a story of failure of lost revenue, heartbreak and all sorts of terrible things. This is a true story about a customer of ours, actually we're mutual clients of each other.

So we had actually hired this customer to build out a video for our products, a ProMAX Platform video and they did a killer job, amazing creative talent at this agency. So they built this out and a couple of years go by. Like many customers I reached back out to them about updating and refreshing it. Unfortunately, they did not have the source files. They didn't maintain it and they never archived it. If they did they couldn't find it.

So guess what? If we're going to do anything with them we have to start over from scratch. Now here's where this is just heartbreaking. They're our customer. This is exactly what we do. 

There's big failure on our part. Luckily I know for a fact we've changed a lot about how easy it is to use our software and how to get trained on it using knowledge base video training and self-help stuff so we don't run into this like we used to. That's just part of growing as a company. So I'm very happy to say most of our customers that use our tools actually solve their needs.

But this was kind of an old school customer. They've had this system for like six years and they were just using it as basic shared storage. Nothing wrong with that but money was left on the table and we were left as an unsatisfied customer which sucks.

So the question is: Where is this happening or does this happen in your business? Is there money being left on the table because you know one out of every 50 customers that come back to you comes back in three or four years.  Do you have their media? Do you have their source files because it's not difficult or expensive to keep that stuff but it is an important practice that takes time, effort and energy. Luckily with the tools that ProMAX Platform customers have we make that as simple as possible. 

So there's your story of heartbreak of failure of pain. If you want to check out the video though go to our hardware page the video is up there. Like I said they did an amazing job but I wish we could have made a couple updates. But you know that's how it goes. So anyways I hope you will not be leaving money on the table I hope you're not losing customers that way. Not that they lost us as a customer they just lost that revenue opportunity. 

Topics:archivingarchivemedia asset managementpost productionpromax platformshared storagemedia managementprofessional video

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