Did you ever felt that creating a product to the public and then they start buying it and then they start making nothing much of the product, ultimately makes the down fall of the product.
So here I am today with some knowledgeable insights on Your Subscribers Engaged and Reduce Churn:
First you need to know,
What is customer churn?
Customer churn is calculated by the number of customers who leave your company during a given time period. In a more down-to-earth sense, churn rate shows how your business is doing with keeping customers by your side.
But why does churn matter so much for businesses in the first place?
Well, the short answer is – because it costs too much for customers to stop doing business with you.
1. Analyze why churn occurs
Yes, this may sound obvious, but let’s stress it once again: you have to simply find out why customers decided to leave.
The easiest way to do this is to talk to the customer.
And by “talk”, I mean really talk: getting your customers on the phone is the best option. This way you can demonstrate that you genuinely care, and you can find out what went wrong instantly.
FACT: 68% of customers leave because they think a company doesn’t care about them.
2.Engage with your customers
Another way to prevent churn is to actively engage your customers with your product.
Often referred to as relationship marketing, give your customers reasons to keep coming back by showing them the day-to-day value of using your products, by making your products, services, offers, etc. a part of their daily workflow.
3. Know who is at risk
The best way to avoid churn is to prevent it from happening in the first place, right?
There is always a group of customers that is more likely to leave than others – so it’s in your best interests to know who is balancing on that dangerous edge. This way you can reach out to them in time to make them stay.
4. Offer incentives
Another advisable tip is to offer incentives, such as discounts and special offers, to those customers who were identified as likely to defect.
Not sure how effective this tactic is?
Offering incentives and discount offers is widely regarded as the most effective tactic in reducing churn.
By following these steps we hope you got an idea about how to reduce the churn from your audience. Share your thoughts in your comments.