6 Churn Reduction Strategies: Listen to your customers - Deepstash
Ultimate Guide to Reducing Churn

Learn more about business with this collection

How to analyze churn data and make data-driven decisions

The importance of customer feedback

How to improve customer experience

Ultimate Guide to Reducing Churn

Discover 62 similar ideas in

It takes just

9 mins to read

6 Churn Reduction Strategies: Listen to your customers

Listening to your customers (and acting on their feedback) directly impacts churn.

The problem some companies run into is feedback can come in from all over the place (social media, support desk, personal conversations, etc.) That makes it tough to keep track of.

Brands are viewed more favourably by 77% of consumers if they proactively invite and accept feedback. So being intentional about getting feedback and putting it to use can help you retain customers and reduce churn.

30

115 reads

MORE IDEAS ON THIS

The Definition Of Churn

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...

25

385 reads

6 Churn Reduction Strategies: Analyze Churn By Customer Segments

To get more clarity, look at your churn by customer segments or cohorts.

Customer segments are the different ways you group customers together. It could be by their plan level, location, coupon vs. full price, or any other category.

28

143 reads

6 Churn Reduction Strategies: Recover Failed Payments

Typically, one of two things happens when your customer’s payment fails:

  • They eventually realize it and make their payment
  • They go ghost and you lose out on the money.

Even if the customer does update their payment info later, you’re still missing out on revenue.

27

126 reads

6 Churn Reduction Strategies: Create A Magnetic Onboarding Process

A great onboarding process helps companies:

  • Give customers the best first experience of the product possible, by guiding them through it.
  • Keep customers informed throughout the process with a clear line of communication.
  • Enable customers to learn more about how to use t...

30

138 reads

6 Churn Reduction Strategies: Build Customer Loyalty

You can build Customer(or Brand) Loyalty by:

  • Being honest and transparent
  • Celebrating your customers, starting with the high-value segment.

Someone who just enjoys your product might leave if another company releases a similar product at a lower price. Their main co...

30

121 reads

Signs Your Company Has A Churn Problem

Here are a few signs/red flags that you might have a churn problem:

  • Your churn is outpacing new customers.
  • LTV is shrinking: The longer your customers stay with you, the higher the lifetime value (LTV) of your average customer should be.
  • Your churn rat...

29

172 reads

Users And Revenue

  • User churn is the number of customers you’re losing in a given timeframe (typically per month or year).
  • Revenue churn, which is arguably even more important, is the amount of revenue you’re losing in a given time frame due to downgrades or cancellations.

29

230 reads

6 Churn Reduction Strategies: Find Out Why Customers Are Cancelling

Ask your customers why they are cancelling. Make sure you customize the cancellation reasons in your survey based on your product.

After having a cancellation reasons form, you can break down the reasons and segregate the customer feedback.

If trying to find out why they are cancellin...

27

144 reads

Calculating Customer Churn: The Formula

Calculating Customer Churn: The Formula

[Leaving Customers/ Total customers]×100

28

318 reads

CURATED FROM

CURATED BY

jam_iee

Life is like facebook. People will like your problems & comment, but no one will solve them because everyone`s busy updating theirs.

In this guide, we’re going to go over six strategies to reduce churn, with real-life examples from SaaS companies that have successfully done it.

stash-superman-illustration

Explore the World’s

Best Ideas

200,000+ ideas on pretty much any topic. Created by the smartest people around & well-organized so you can explore at will.

An Idea for Everything

Explore the biggest library of insights. And we've infused it with powerful filtering tools so you can easily find what you need.

Knowledge Library

Powerful Saving & Organizational Tools

Save ideas for later reading, for personalized stashes, or for remembering it later.

# Personal Growth

Take Your Ideas

Anywhere

Organize your ideas & listen on the go. And with Pro, there are no limits.

Listen on the go

Just press play and we take care of the words.

Never worry about spotty connections

No Internet access? No problem. Within the mobile app, all your ideas are available, even when offline.

Get Organized with Stashes

Ideas for your next work project? Quotes that inspire you? Put them in the right place so you never lose them.

Join

2 Million Stashers

4.8

5,740 Reviews

App Store

4.7

72,690 Reviews

Google Play

Ashley Anthony

This app is LOADED with RELEVANT, HELPFUL, AND EDUCATIONAL material. It is creatively intellectual, yet minimal enough to not overstimulate and create a learning block. I am exceptionally impressed with this app!

Shankul Varada

Best app ever! You heard it right. This app has helped me get back on my quest to get things done while equipping myself with knowledge everyday.

samz905

Don’t look further if you love learning new things. A refreshing concept that provides quick ideas for busy thought leaders.

Sean Green

Great interesting short snippets of informative articles. Highly recommended to anyone who loves information and lacks patience.

Laetitia Berton

I have only been using it for a few days now, but I have found answers to questions I had never consciously formulated, or to problems I face everyday at work or at home. I wish I had found this earlier, highly recommended!

Giovanna Scalzone

Brilliant. It feels fresh and encouraging. So many interesting pieces of information that are just enough to absorb and apply. So happy I found this.

Ghazala Begum

Even five minutes a day will improve your thinking. I've come across new ideas and learnt to improve existing ways to become more motivated, confident and happier.

Jamyson Haug

Great for quick bits of information and interesting ideas around whatever topics you are interested in. Visually, it looks great as well.

Read & Learn

20x Faster

without
deepstash

with
deepstash

with

deepstash

Access to 200,000+ ideas

Access to the mobile app

Unlimited idea saving & library

Unlimited history

Unlimited listening to ideas

Downloading & offline access

Personalized recommendations

Supercharge your mind with one idea per day

Enter your email and spend 1 minute every day to learn something new.

Email

I agree to receive email updates