Prioritize customer experience to reduce churn Your customer churn
The increase in communication allowed Mention to reduce churn by 22% in one month. 6. Incentivize customers to continue using your product If all else fails, you can also consider incentivizing users to continue using your product or service. Lead Peep is a case study in the effectiveness of this particular approach. By offering customers an incentive to stick around when they cancel their accounts,The company has been able to reduce churn by more than 50%. What Lead Peep B2B Email List does is offer users a 20% discount on their current plan, or a free upgrade to a higher plan upon cancellation. This example from Fotolia illustrates this; the company reduced churn by offering 30% extra points when it found users were inactive. You can also leverage similar options to motivate customers to continue using the product – perhaps with a personal touch.
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For example, if you offer more personalized support or DIY services to users of premium plans, you can extend this to users of lower plans to reduce churn upon cancellation. Of course, this only works if you understand the real reason why the cancellation occurred. A great way to incentivize customers to stay is to actually interview them, find out why they canceled, see how to fix it (if you notice a common trend, for them and others), and then incentivize them to stay.rate is the most important indicator of the health of your business.
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