The Real Cost of Customer Churn

Is your brand living up to its promises?

Weak marketing and sales strategies that end at the point of purchase lead to higher churn.

Avoidable customer churn costs U.S. businesses $136 billion EVERY year. You might be shocked at the number but the word “AVOIDABLE” is even more important.

Let me tell you a story.

I was once hired by an online service provider with a decent sales pipeline and client base. I start every onboarding with an in-depth business analysis and it became obvious very quickly that one aspect of his product was so glitchy, it was almost unusable. And he KNEW it.

But rather than spend the time and money to FIX it, his strategy was to let them churn. Then he hired me to keep his pipeline full.

That is a strategy and it can work. But in the long-term, it can be challenging to maintain. You cannot solve a customer retention problem by finding more customers.

I value excellence and to me that means providing a solid sales and marketing strategy that address the buyers journey and every stage of the process. And I want your product to be excellent too!

A 5% increase in customer retention can increase profits by 25-95%.

LETS END THE CHURN.

Customer Retention Marketing Strategies that Reduce Churn

1. Take responsibility for mistakes.

2. Implement a customer feedback loop.

3. Develop AI, chat and easy communication tools.

4. Create an onboarding campaign.

5. Personalize your products and services.

6. Leverage convenience.

7. Provide problem solving resources.

8. Nurture an engaged online community.

9. Surprise and delight with unexpected benefits.

10. Launch a loyalty program.

If you recognize you have a problem with customer churn, let’s fix it. Reach out to me for a full product and marketing audit that will diagnose the challenges and offer solutions.