If you feel like business today could do with a new approach, you can give your economics a boost by changing the way you work with your customers. Wise entrepreneurs are starting to understand the often forgotten concept that customers are human beings, and that transactions form part of a (hopefully ongoing) relationship. Like any relationship, neglect it for too long and you risk alienating the other party. You may not even realize it until it’s too late. Only 4% of customers will let you know when they’re unhappy with your service. The rest you can consider lost.

This lost business costs U.S. businesses a whopping $83 billion each year. But it isn’t just about the business you’re losing – it’s the opportunities as well. Cultivate an open dialogue with your customers that is about more than just selling. You’ll create the chance to discover unpredictable new insights into what you do and how you do it. Asking for feedback is a great opportunity to discover where you’ve gone wrong and where to go next. A chance comment may influence your next product line or inspire a new service that your customer base really desires, but which you hadn’t previously considered.

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There is no single technique that can get you to this place. Rather, it is about creating a culture of openness and encouraging the flow of information to go both ways. That means ensuring you have accessible ways for your customers to contact you. Prompt them to let you know how they feel, and communicate regularly about your own experiences – ideas, encounters, successes and even mistakes, to remind them that you, too, are human.

For some specifics on how to go about this, check out Headway Capital’s new infographic. It contains nine simple ways to rejuvenate that business-customer relationship and strengthen your opportunities going forward.

9 Ways to Make Your Customers Happy