How to Stop Customer Churn
To prevent/reduce/stop the Customer churn pay attention to…
1. SEGMENTATION BY READINESS TO LEAVE
Segment your Customers into groups of readiness to leave and their likelihood to accept your offer to stay.
In this way, you can better predict Customer churn
2. AT-RISK CUSTOMERS
Identify Customers that are in danger of churning.
Check engagement flags, such as fewer visits to website or Socials
3. MOST VALUABLE CUSTOMERS
These are the Customers you want to keep.
Take extra care of valuable Customers because they bring in the biggest revenue
4. ONLY DOABLE
Ensure that everything your sales people promise is doable.
It gives you a good chance to deliver and exceed Customers’ expectations
5. BE HONEST
Be honest about your weaknesses impacting business growth.
Turn the factors driving Customers away into your strengths
6. BE THE EXPERT
Be the expert in your field to retain Customers.
Becoming a trusted advisor leads to a Customers’ dependency
7. ADD VALUE
To grow your company, improve your products/services.
Make your products/services so valuable that your loyal Customers never want to leave
8. THE BEST PRODUCT/SERVICE
Reassure your existing Customers that they’re using the best product/service. Highlight the features once again and send out emails about case studies involving your product/service
9. NOT ONLY FOR RENEWALS
Avoid contacting your Customers only when you’re seeking contract renewals.
Increasing your communication, you prevent the company from potential issues
10. THANK YOUR CUSTOMERS
Build Customer loyalty by thanking them for the continued business.
Publish valuable feedback on your blog
Check your Customer retention level with Customer Centricity Quiz