This HBR blog from earlier this year is an instructive reminder that drift, no decision and inertia can be more commonly encountered than direct competitive loss.
These experiences bring their own mindset challenges. For this reason we believe it’s important to focus on an appropriate level of optimism or explanatory style. Rather than internalise why this has happened, think about the customer’s perspective. Empathy helps also in managing the consequences and trying to get things moving again. This article is a good read when it comes to walking in the customer’s shoes.