There are a few things that can affect your customer attrition or churn rate. Below, we'll talk about the most important areas, along with providing you with some tips to fix them.
Start From The Beginning
You can help to prevent customer churn from the moment someone becomes a customer by having an effective and informative onboarding process. Use a new customer welcome email and online customer onboarding, and create educational content on your blog, social media, and video channels to instruct customers and show them how to get optimal value from your product or service.
Analyze The Problem
Customer churn is bound to happen and when it does, use it as an opportunity to dive into what prompts the customer to leave, and the steps you can take to prevent a similar customer from leaving for the same reason. You can utilize these circumstances of customer attrition to dig into customer support, analyze your product or service, or identify core issues or holes in the customer experience. You can also look at the CLV to help you track if your efforts to reduce churn is working or not.
Ask For Feedback
To help decrease the amount of churn your company has, make sure you consistently and frequently ask for customer feedback at important moments across the customer experience. Track the times that have the highest churn rates, such as if your customers don't sign in or use your product or service in 20 days. As these are the customers who typically have the highest churn rates, keep track of them and send out a feedback email within the first 2 weeks to try to get them to engage more. Another attempt to engage the customer more is to send emails at designated times or milestones such as feedback or acknowledgement emails.
Build A Relationship
Another proactive approach to reducing your churn rate is to build a relationship with your customers by communicating with them consistently. Reach out to your customers with content that will be interesting or helpful, engage on social media, and reach out if issues occur so they know they can depend on you as a company.