5 TIPS TO REDUCE CUSTOMER CHURN

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 Customer Relations in Business.



Customer churn is the percentage of customers that ceased using and purchasing your organization's products or services during a specific time frame. Churn rate is calculated by dividing the number of customers you lost during a time frame, such as one quarter, by the number of customers with which you began the time period.

There's nothing more satisfying than closing a deal with a customer. However, there's nothing more disappointing than losing a customer forever. 

Reducing your churn is an ongoing struggle and will continue to be for however long your company exists. But that doesn't mean that you should give up the fight. By focusing on the customer experience after a client has moved through the sales funnel, enterprises can reduce customer churn. 

Here are 5 key churn management strategies that can reduce customer churn and improve customer retention:-

#1. Provide outstanding customer service and support

A big reason why customers churn is due to lack of quality customer service. According to a survey, 89% of customers switched to doing business with a competitor due to a poor customer service experience with the original brand. Customers want to feel like they are heard by your organization, so prove to them that they do. You can provide outstanding service and support by being proactive. Don't just wait until a customer reaches out with a complaint to halfheartedly communicate with them. If it comes to your knowledge that there is now an upgrade available for their purchased product, or if you find out that there's been a glitch discovered in the product they purchased, make a point to reach out to them individually. They will appreciate the time you took to offer support- especially when they didn't even know they needed it. If they feel like they matter to your company as more than just a means to a sale, it's likely they'll stick around.

#2. Be proactive with communication

By reaching out to your customers before they need you, you're demonstrating that you're invested in helping them get the most out of your product or service. But not any old outreach will so. The type of message or resource you send to them should be directly tied to their product or service usage. For example, if someone signs up for your product or service and you notice that they aren't leveraging all of what's available to them, you might send them a friendly nudge.

#3. Effective onboarding

Align with client expectations during the onboarding process and ensure customers are fully aware of their solution's capabilities as well as their options for support and solutions. Typically, onboarding processes focus heavily on training and development, but business leaders should also take this time to understand the customer's goals and communicate steps to achieve those objectives, including best practices. By offering an exceptional customer experience from the start, companies can promote longevity in their business relationships.

#4. Provide value beyond the purchase

Besides providing outstanding service and support, there are other ways that you provide value to your existing customers and prevent them from churning. It's all about making them feel like your company has more to offer than a single product that they needed to fulfill a single need. Show your customers that your organization provides unparalleled value. Some examples include sending daily or weekly newsletters, sharing with them relevant blog posts or keeping them up-to-date on upcoming events and programs held by your company. Encourage them to sign up for your email newsletter, if you have one, and they will get used to seeing your company's name in their inbox. By sharing blog posts that are related to an experience they relayed to you or the product they purchased, they'll feel flattered that you remembered and thought of them. And this valuable content will further improve their lives and remind them of why they chose your business in the first place.

#5. Ask for feedback often

Customer frustration, which can ultimately lead to customer churn, surfaces when there is confusion around a product or service or lack of effective support around a particular issue. But those concepts are vague. And getting to the root of the specific issues plaguing your business requires you to take the time to collect feedback early and often. Depending on your business needs, creating a customer feedback early and often. Depending on your business needs, creating a customer feedback loop can be easy as setting up a survey or feedback from and sending an email.

Conclusion...

Reducing churn should be a never ending battle for your company. But if you construct a process that bakes retention directly into the core of your company, then it is a battle that will win time and time again. The secret to fighting churn is that there is no secret.!!!


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Written by: Antony Moturi


   About the Author: 


Antony is a professional DJ, Pianist, Social Media Manager, Content Creator and a Blogger. Besides that he does professional Sound Engineering, Public Speaking and is a Youth Leader.

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