Four Ways to Reduce Churn and Create a Companywide Culture of Customer Success
marketingprofs.com
5 ideas
·67 reads
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1. Actively vet your leads
Marketing needs to be laser-focused on generating leads that fit your ideal customer profile in order to reduce churn. We do this because it is inevitable that some poor-fit leads will still be generate and passed on to the sales division.
Questions to guide with vetting:
- Is your sales team trained and actively encouraged to vet and quickly reject poor-fit leads?
- Do you have a concrete feedback loop between Sales and Marketing to minimize the generation of poor-fit leads?
Success and support teams should regularly review the sales team's pre-sales qualification and requirements checklist.
4
17 reads
2. Balance product stability with new feature releases
The approach of "move fast and break things" no longer work. If you focus too much on releasing new features at the expense of stability will backfire on you and increase churn.
It is important to balance stability with new feature releases. Therefore, leaders must align on the priorities and acknowledge the consequences should they choose decisions on their own.
3
13 reads
3. Teach business acumen
Business acumen is keenness and quickness in understanding and dealing with a "business situation" in a manner that is likely to lead to a good outcome.
Teaching business acumen to your hardworking folks will improve financial performance and leadership development and they'll know which questions to ask to your customers to truly add value to their relationship.
3
17 reads
4. Listen to your customer support team
Support is an incredibly valuable listening post to help mitigate churn because customer's issues are usually first escalated to them. They have the best and possibly the earliest gauge on customer temperature and likelihood of churn.
Thus, your product and and customer success teams should treat the support team like one of your top customers.
3
8 reads
The foundational requirement for reducing churn is ensuring you have a companywide cultural and behavioral mindset dedicated to customer success.
KANWAR SALUJA
3
12 reads
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