Consumer “Churn” is the rate that customers stop using your company’s product or service.
Having some amount of Churn Rate is unavoidable, but that doesn’t mean there’s nothing you can do about it!
The idea, of course, is to both keep your Churn Rate as low as possible while also bringing in fresh customers and clients.
To help you make this happen, our Axel & Associates Marketing Experts are back with some Pro Tips on flattening your Churn Rate!
How to Cut Your Churn Rate
First: Know the Signs.
When customers begin to slip, there’s often a pattern of behavior that develops. You can spot these by looking for signs like not opening from your newsletters (or unsubscribing altogether) and not liking social media posts. Of course, another major indicator is sending in negative feedback, either by calls or emails or online reviews.
While it can be natural and easy to slide into a combative or dismissive mindset when engaging with these behaviors, it is essential that you avoid doing so in order to uplift your business brand.
Remember: these individuals are not as isolated as they seem. They each have a network of friends and family that they share their experiences and recommendations with. Plus, if they leave public reviews online, those are then visible to everyone. That’s why it’s important to keep note of these cases, look for patterns, and address each one thoughtfully and professionally when they first come up.
Then: Revamp Your Customer Service Experience
Bad customer service is a leading factor that drives a business’s Churn Rate. Addressing this as an early step of your strategy helps not only to stop any bleeding but also attracts new customers that may be leaving your competitors for the same reason!
Here are some great ways to immediately enhance your customer experience:
- Reach out individually to anyone that has raised an issue or complaint —regardless of whether they are a customer or not
- Send out announcements via email or on your website whenever any errors or glitches have been fixed to show your team is proactive and listening
- Show appreciation with incentives like one-off discounts for their next purchase, just for reaching out
These steps will quickly position your business to start capturing fleeing customers. Stay tuned for more Customer Retention Pro-Tips from the Axel and Associates Marketing & Branding experts!
Need immediate assistance to boost your business’s revenue and appearance? Reach us at 866-DAVIDAXEL (866-328-4329) or firstname.lastname@example.org to schedule a free consultation and plan the best way forward for you and your brand.