Ideas from books, articles & podcasts.
State of business: sometimes, factors at play internally make it impossible for a customer to continue their vendor relationships. However, this reason cuts just as deep as some of the others.
Lack of value: a wide swath of reasons for customer churn falls under ‘lack of value,’ which, at its core, means that a customer isn’t seeing the promised outcomes from your solution.
Access to leadership: If a customer does not feel like they are the most valued customer at your organization, they will often find a vendor who can provide this access.
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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...
CSMs can prevent customer churn by constantly being on the lookout for warning signals and being diligent about proactive engagement. When customers do churn, do diligent follow-up and ask questions to understand better why this termination is occurring.
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Churn can most basically be defined as resources lost in a given period of time. Typically it’s referring to users or revenue lost and is usually represented with either a percentage or dollar amount.
For example, if you had a 5% monthly user churn rate, that means each month 5% of your cus...
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:
published 5 ideas
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