Learn more about marketingandsales with this collection
Identifying the skills needed for the future
Developing a growth mindset
Creating a culture of continuous learning
How to Reduce Churn 1/2
Damage control
Recovering from a loss of trust is hard, but not impossible. The key is not to shy away from the conflict, but to lean into it. Pretending that the controversy doesn’t exist will only deepen the distrust between you and your customers.
Rewarding loyalty
While many companies focus heavily on providing discounts and freebies to new customers, it’s a grave mistake to ignore your existing customers. They should be rewarded for their loyalty just as much as you reward new customers for taking a chance on you.
15
31 reads
MORE IDEAS ON THIS
Identifying The Source of the Churn 1/2
- Competitors. If a new competitor has appeared in your industry and is making some serious waves, it’s natural to expect a peak in your churn rate as customers shift.
- False advertising/disingenuous marketing. This is why marketing teams deserve a lot ...
16
57 reads
If your business is a bucket, you can keep pouring as much water (customers) as you want into it, but if you have a lot of leaks, you’ll never fill the bucket. Without filling the bucket, you’ll never achieve growth.
PRODUCT SCHOOL
15
114 reads
Customer Churn vs Revenue Churn
- Customer churn refers to how many individual customers have deleted their accounts, cancelled their subscriptions, or not logged in for X amount of time.
- Revenue churn focuses on the value of these customers, and measures the monetary loss o...
15
76 reads
How to Reduce Churn 1/2
Re-brand
While not a step that should be taken lightly, if your product/service is one of the older ones on the market, it could have fallen out of fashion.
15
31 reads
Identifying The Source of the Churn 2/2
- Bloated price point. If the price isn’t justified by the value the product provides, customers will likely search for an alternative.
- Reduced functionality. Did you scrap a feature that you thought no one liked? If you then see flood...
15
40 reads
CURATED FROM
CURATED BY
Generalist. Great minds discuss ideas, average minds discuss events, small minds discuss people.
Reducing churn for digital products.
“
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.
I agree to receive email updates