23 Ways To Reduce Churn: #15 FOCUS ON UNENGAGED CUSTOMERS!
A widespread customer success mistake is to focus on customers who are unhappy and who are having "negative" experiences.
📈 But the data show customers with negative experiences stay much LONGER than customers who haven't had negative experiences!
The reason is simple →
👉 Negative experiences are a consequence of engaging with your solution. Customers who are not actively engaged will not get results and will ultimately churn. 👈
THE LESSON IS CLEAR...
✅ If you want to solve churn, focus your effort on UNENGAGED customers.
✅ Trouble tickets are a POSITIVE signal that a customer is on the right track.
✅ Focus on getting customers to RESULTS rather than "satisfaction". - Measure & Show Customer Results
23 Ways to Reduce Churn in 2023
Proven Methods for Rapidly Increasing Customer Retention Backed by Real-World Data
By: Greg Daines, CEO ChurnRX
QUOTE OF THE WEEK:
You don't solve churn by thinking of it as a problem, but by solving the customer's problem for which churn is the solution.
23 Ways To Reduce Churn: #5 - Stop Underselling
To close a deal, it can be tempting to reduce the proposed solution to fit within the prospect's budget. The logic is that when the customer sees results, they'll expand.
🛬 "LAND & EXPAND" right?
But there's a HUGE problem with this that inevitably shows up later - as CHURN!
It's based on this simple reality:
👉 Customers will fail if they do not have everything they need to get good results. 👈
This is why it is essential to design the RIGHT solution for each customer.
But you can't know what is the right solution until you have clearly defined the customer's results. Because what solution they need is determined by what results they are expecting. 📈
Our research reveals that customers who are undersold and those who are oversold both have shorter average lifespans than customers who sign up for the appropriate solution for their objectives.
THE LESSON IS CLEAR:
✅ Sell customers their right "total solution" or be prepared for inevitable churn.
QUOTE OF THE WEEK:
Customer bonding happens when customers can no longer visualize their success without you.