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
A Better Retention Campaign
A retention campaign that paints a commercial relationship as a personal one will always be awkward at best and at worst will create ill will. Here are three better ways to create retention campaigns that feel genuine and actually work:
- Focus on how your product helps
- Identify and solve the problems that caused churn
- Proactively monitor usage and value
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Focus on how your product helps
The mistake at the heart of the “we miss you” message is that it represents the customer’s relationship to the business as personal, not commercial. Personal relationships are based on who we are, and we want them to persist through thick and thin. But commercial relationships are different.
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The Bottomline
Understanding why each customer is buying your product and then measuring whether they’re taking the actions that would enable them to achieve that result enable you to deliver specific and personalized interventions. If your company has an account management team, this scorecard can form the bas...
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Identify and solve the problems that caused churn
Many experiences can cause churn: inability to find the right product, struggles to get set up, a poor service experience, or changing business needs. A retention campaign that specifically
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We Miss You!
A company you bought something from months ago sends you an email with three immortal words: “we miss you”.
These messages feel icky because the sentiment is belated and insincere. Deep down we know that the business doesn’t really miss us. The business doesn’t know our sparkling personalit...
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Proactively monitor and manage value
Customers generally stop using (or cease to repurchase) products when they don’t get enough value out of your product to justify the price, not out of forgetfulness or disloyalty. To identify customers who might not be getting enough value (and so are candidates to churn), look for the ones who a...
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Other Tips From Jordan Peterson For a Better Life
- Consider that any hierarchy creates winners and losers. The winners are more likely to justify the hierarchy and the losers to criticize it.
- Understand that hierarchy is inescapable. The pursuit of goals lends life meaning and the collective pursuit of goals produces hi...
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