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Why Your Customers Are Leaving – and How To Win Them Back

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The Chart of the Week is a weekly Visual Capitalist feature on Fridays.

One of the most important questions facing a business of any size is: why do your customers leave?

It doesn’t matter if you are a part of a Fortune 500 firm, or if you are a local plumber that works out of a van. This question should be important to you, because it has a huge impact on your livelihood.

Oddly enough, it turns out the answer to the question could be deceivingly simple. Businesses just don’t seem to care enough about their customers.

Why Customers Leave

Even if your product is mediocre. Even if you are technologically behind your competitors. Even if your prices are higher – if you actually care about your customers, you will still have a chance at keeping them on board.

That’s because people want to work with companies that have “skin in the game” with their clients. They want you to fight for them, and to be noticeably invested in their success.

Yes, you still have to deliver on your promises, but just showing your ongoing commitment to their problems will go a long way.

Here’s the Disconnect

If you are thinking that the above fact is obvious, then you are not alone.

There are thousands of companies across the world that have deemed customer service to be their big competitive advantage. They have company rallies where they talk about putting the customer first, and their internal messaging is all around how being “customer-centric” is the engine behind the company’s success.

The problem (and the opportunity) is that although everyone says they are focused on solving the problems of their customers, nobody actually executes on this promise successfully.

Consulting firm Bain & Company calls this the “Delivery Gap”:

The Customer Delivery Gap

It’s like a New Year’s Resolution. Almost everybody makes them, but no one actually keeps them.

But it’s a huge opportunity. If everyone says that they are customer-centric but only very few actually deliver, that means that clients are rightly skeptical about such a claim. It’s your opportunity to turn their outlook upside-down by unexpectedly hopping right into the trenches with them.

Once they see you fighting for them on a personal basis, it will make a world of difference.

The Proof is in the Pudding

These types of customer relationships translate to real success, even in the stock market:

ACSI Long/Short Portfolio

This is the American Customer Satisfaction Index (ACSI) long/short portfolio. Basically it represents the idea of buying equity in companies that have high levels of customer satisfaction, while betting against the companies that customers hate.

The end result? Consistent outperformance against the S&P 500 over the last 16 years.

Real customer service translates to real wins, and it will likely allow you to decrease client turnover, while upping the lifetime value of each customer.

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Agriculture

The World’s Top Cocoa Producing Countries

Here are the largest cocoa producing countries globally—from Côte d’Ivoire to Brazil—as cocoa prices hit record highs.

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This tree map graphic shows the world's biggest cocoa producers.

The World’s Top Cocoa Producing Countries

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

West Africa is home to the largest cocoa producing countries worldwide, with 3.9 million tonnes of production in 2022.

In fact, there are about one million farmers in Côte d’Ivoire supplying cocoa to key customers such as Nestlé, Mars, and Hershey. But the massive influence of this industry has led to significant forest loss to plant cocoa trees.

This graphic shows the leading producers of cocoa, based on data from the UN FAO.

Global Hotspots for Cocoa Production

Below, we break down the top cocoa producing countries as of 2022:

Country2022 Production, Tonnes
🇨🇮 Côte d'Ivoire2.2M
🇬🇭 Ghana1.1M
🇮🇩 Indonesia667K
🇪🇨 Ecuador337K
🇨🇲 Cameroon300K
🇳🇬 Nigeria280K
🇧🇷 Brazil274K
🇵🇪 Peru171K
🇩🇴 Dominican Republic76K
🌍 Other386K

With 2.2 million tonnes of cocoa in 2022, Côte d’Ivoire is the world’s largest producer, accounting for a third of the global total.

For many reasons, the cocoa trade in Côte d’Ivoire and Western Africa has been controversial. Often, farmers make about 5% of the retail price of a chocolate bar, and earn $1.20 each day. Adding to this, roughly a third of cocoa farms operate on forests that are meant to be protected.

As the third largest producer, Indonesia produced 667,000 tonnes of cocoa with the U.S., Malaysia, and Singapore as major importers. Overall, small-scale farmers produce 95% of cocoa in the country, but face several challenges such as low pay and unwanted impacts from climate change. Alongside aging trees in the country, these setbacks have led productivity to decline.

In South America, major producers include Ecuador and Brazil. In the early 1900s, Ecuador was the world’s largest cocoa producing country, however shifts in the global marketplace and crop disease led its position to fall. Today, the country is most known for its high-grade single-origin chocolate, with farms seen across the Amazon rainforest.

Altogether, global cocoa production reached 6.5 million tonnes, supported by strong demand. On average, the market has grown 3% annually over the last several decades.

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