Customers are the heart of your business, if they don’t feel like they’re getting the attention, tools, and service they paid for, they’ll be jumping ship and taking their money straight to your competitors.
High customer churn is a challenge that can be conquered with the right strategy and mindset put in place from the second you start building that relationship with your customers. Implement these 5 steps to turn around customer churn and make a successful customer retention plan.
Proactive, Rather Than Reactive
It’s always better to be proactive with your customers. From the get-go, build a customer relationship and map a clear plan for them. Including milestones of what they can expect from your tools and services showcases your dedication and organization to your customers.Struggling with #customer churn? You’re not alone and that’s why @kilterly compiled these 5 action plan steps to help you. Curious? Dive in and start taking notes Click To Tweet
.Help ease the transition into your software by setting up a new customer onboarding process, and include a guide for new customers to go through your product or service’s features, functionality and process. Giving your client access to this valuable information and resource from the start shows your client that you care about them and want them to succeed.
Pro Tip: Offer free educational classes, webinars, tutorials, real-time support chats or any additional resources either weekly, monthly or bi-monthly on the specific tools they are using. This makes it more personable and useful for each client.
Evaluate and Redirect
Always be on the lookout for customer churn. While you should be consistently reaching out to clients throughout their relationship, you need to be able to identify the high-risk customers and those that are the most profitable because they are key customers and you’ll want to ensure that they stick around.
Time is crucial when it comes to redirecting those who you think are on the verge of leaving. Your team needs to be able to engage them to get them back on board. Start by repairing any issues they’ve experienced and offer an incentive to hook them.
Pro Tip: Take time to pool together your customers. Place them in categories such as most profitable and those on the brink of canceling. Put your attention and efforts toward those who make or break your business. Focusing on these customers and their specific needs is important to retain them. Redirect them and offer a new perspective on their current contract by laying out a better roadmap and possible discounts.
Everybody loves a good discount, including your customers. Incentives are a way to grab your customers’ attention and pull them back from a near churn. Incentives can include discounts on their current services, special offers on new tools to purchase or giving them access to a loyalty program.
Incentives can differ for every business and customer. Evaluating what your customer would benefit from most will help you determine when you should surface this incentive. If you find out a customer is on the brink of canceling, incentivize them to stay aboard while your team works hard to fix any issue, strategy or tool they are facing or needing.
Pro Tip: While incentives are great, make sure you don’t break the company budget by trying to keep those smaller customers if they won’t bring in enough revenue in return.
Get Feedback Often
Feedback, positive and negative, is the backbone to any good business. It’s how you get the right insight from those who use your product the most — your customers. Complaints can play a big factor in the feedback process, your customers want their issues resolved and if you don’t take the time to listen to them, they will leave. Customer frustration is one of the major leading causes of customer churn. So how do you avoid it? ASK and LISTEN to your customers and then put an action plan in place.
Pro Tip: Create and offer a customer feedback option on your website or with your reps. It can be as easy as creating a survey, feedback form or sending an email to check in on them.Struggling with #customer churn? You’re not alone and that’s why @kilterly compiled these 5 action plan steps to help you. Curious? Dive in and start taking notes Click To Tweet
The next big idea, software or technology is constantly coming out. So what makes your product or service better than the rest? Your customers look to you for the best of the best and if you aren’t delivering, they will move on.
Know what makes you stand out from the crowded market and make sure your customers KNOW what they will lose out on if they decide to leave. Keep that competitive advantage by asking your team these questions and keeping those thoughts at the top of your list to ensure you are keeping those key customers.
Pro Tip: Companies who put a strong focus on trends, new technology and updated software put themselves in a better place and can decrease their customer churn. Stay ahead of your competition, watch what they are doing and understand how their customer success works. This will give you the foundation you need to build and maintain your strategy.
Customer churn can be avoided and improved with simple measures such as these. To make your business stand out, engage with your customers. You are a team so coach them, communicate with them and make sure they are succeeding. Stay ahead of the game and study your competition, listen to your customers and solve any issues that arise. A happy customer is a retained customer.
We know you have what it takes, but that doesn’t mean you have the data and insight needed to make better customer success choices. Our tools and integrations empower your team to develop strategies that overcome obstacles and create customer brand ambassadors. Make customer satisfaction that thing you do better than the rest. Schedule a one-on-one demo now.