Customer churn is the number of customers who leave your business during a specific time period. It shows how well your brand is engaging with your customers. Since it’s too costly to lose customers, it’s important to find ways to retain them. Here are six ways to decrease the churn rate.
Determine the Reason Why Churn Happened
The first and most important step is to find out why customer churn happened in the first place. You need to know the reason why your customers left. The best way to do this is by talking to your customers. Talking to them face-to-face or on the phone are two of your best options.
This proves to your customers that you genuinely care about them and want to correct whatever went wrong. Don’t rely on automation tools such as online surveys. Engage with them and find out why they left. This will provide you with the feedback you need to solve their problems or needs.
Use Co-Browsing to Offer a Personalized Experience
If you do want to rely on technology, then co-browsing is your best bet. It personalizes the customer experience. It also reduces the need to convince your customers who are ready to leave your business. Through the use of co-browsing your customers can be on the same page as your customer service staff.
There are plenty of co-browsing tools on the market, some of which are free to try. Use these tools to eliminate the time-consuming process to show customers what to do. Instead, guide them through the process. An intuitive and engaging tutorial can reduce your churn rate by 6% and decrease call-backs about the same issue.
Engage With Your Customers
Another way to reduce the churn rate is to engage with your customers along the way. Provide your customers a reason to stay by providing the immediate value of your products and services. You have to make your business, products, and services a part of your customer’s every day lives. This can be achieved through content that describes the benefits of your products and services.
You can also post regular updates on discounts, offers, or sales that are coming up. While face-to-face communication is still the best form of communication, an IBM study found that there is an increase in social media and website channels used to engage with customers. It’s also important to provide ongoing feedback. Ask customers about their first impression of your products and services so you can improve on them.
Improve the User Onboarding Process
Every business should have an onboarding process from the start. Forty to 60% of customers who use a SaaS application often use it once and never try it again. That’s because those customers were never able to understand how this tool can add value to their business. It’s important to communicate your brand story to your customers from the start as well as through every stage of the sales funnel.
Use a Proactive Approach
The reason why customers leave your website is because they can’t find what they’re looking for or they can’t navigate the pages. This contributes to your churn rate. To resolve this problem, you should adopt a proactive approach where you can ask customers about their online behavior using chat, email, or phone support.
A proactive customer service allows your customers to get the answers to their questions immediately. Not only does this decrease the churn rate, but it also improves the churn rate. With this approach, your company can build a strong customer base. The best way to attract customers and decrease the churn rate is by adopting a proactive approach.
Educate Your Customers
This method involves providing a good supply of educational and support materials that can help reduce churn. Some of those materials may include free trainings, product demonstrations, video tutorials, and webinars. You should use the type of content that’s tailored to your customer’s needs and makes them feel comfortable about using your products and services.
Don’t just provide them with the tools that work. Show them how to use these tools to their benefit. When you demonstrate the potential of your products and services, your customers will stick with you until the end.