Reducing SaaS Churn: Customer Education
- A study by Bain and Co. found that a mere 5% reduction in churn can lead to a profit increase of 25-125%. That’s a massive gain for a little amount of work.
- One of the biggest reasons that customers churn is that they don’t know how to use your product. They end up getting no real value from it. It’s a waste of their time and money.
- That’s why it’s so important for SaaS companies to invest in customer education. The better you educate your customers, the more likely they are to stick around.
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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.
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