Customers are the lifeblood of a business, and when they decide to do business with someone else, it can make a big impact. Customer churn refers to the number of customers that are lost within a specific period of time – too high a rate can be bad news for your business. These tips can help you keep your churn rate low.
- Analyze the Customers You’re Losing – If you’re finding your churn rate is too high, do some research into why customers are leaving. Incorporating a survey into your unsubscribe link or reaching out to lost customers can help you see what areas you need to focus on to improve.
- Be Proactive – Great customer service is critical to reducing customer churn. Being proactive takes it one step further. Reach out with updates, recalls, or new products they may be interested in as soon as you hear about them. Show them you’re invested in keeping their business.
- Be Personal – Everyone likes to feel like they matter. While mass emails are easy to send, they’re also impersonal. Instead, try targeting your correspondence to reach customers with the information you know they’ll want.
- Provide Added Value – While a great product may be what drove a customer to you, providing additional value can help retain them. A newsletter, blog, or social media posts can provide your customers with information about products and services they may be interested in, related topics, and tips that help them make the most of the product they purchased. Not only will this help to engage your current customers, it’s a means to also attract new customers to your business.
- Focus on Existing Customers – While you want to attract new customers, it shouldn’t be at the expense of your existing customers. Be sure to foster those relationships and let them know their loyalty matters.
No one likes to lose customers, but customer churn happens to every business. By boosting your customer service you can help reduce your churn rate and keep your customers coming back!