Why do customers churn?
Price: Asking customers to pay top dollar for a product, especially if they aren’t experiencing the value to make it worth it can quickly wear thin with decision-makers.
Product: many times, customers purchase a product based on what it can do to make their lives easier. If this product isn’t living up to expectations, or if promised features aren’t being delivered, the customer will churn.
Competition: if you’re a SaaS firm, there will always be someone out there delivering the same thing and if their product becomes too appealing, there is often little you can do to pull them back.
5
65 reads
The idea is part of this collection:
Learn more about marketingandsales with this collection
The history of fashion
The impact of fashion on society
The future of the fashion industry
Related collections
Similar ideas to Why do customers churn?
Build Workflows Around Your Customer Churn Red Flags
Set up a workflow to determine which triggers to use based on the churn risk factors you’ve identified.
For SaaS providers, you might look for customers that haven’t logged into their account for X number of days, didn’t complete the onboarding, or have stopped using your product.
Do ...
What Not To Do
- Do not make assumptions about a disengaged employee's performance. While statistically, such employees do underperform, there can be other reasons too.
- Do not force an employee to be someone they are not. Everyone cannot be happy and optimistic all the time.
- ...
Leverage your customers
Your customers are the market, so having a customer-centric strategy is an obvious choice. The best way to have your customers involved in product development is by having them come up with the products. It means a much briefer market validation period because the solutions origi...
Read & Learn
20x Faster
without
deepstash
with
deepstash
with
deepstash
Personalized microlearning
—
100+ Learning Journeys
—
Access to 200,000+ ideas
—
Access to the mobile app
—
Unlimited idea saving
—
—
Unlimited history
—
—
Unlimited listening to ideas
—
—
Downloading & offline access
—
—
Supercharge your mind with one idea per day
Enter your email and spend 1 minute every day to learn something new.
I agree to receive email updates