David Lecko, CEO
Churn will happen and often a change in your customer's business strategy or finances can impact their retention.
Churn can be mitigated through focused attention on key aspects that can be optimized.
All aspects of retention also revolve around capturing the right data, feedback, and testing with the ability to interpret and translate into actionable strategies for improvement.
Onboarding can last minutes or weeks. The key is from the moment that a prospect signs up that there is a streamlined process to get them to a valuable outcome.
How you communicate and build rapport with a customer can impact churn significantly. A user experience map should look to exceed physical and emotional expectations throughout their journey.
Users need support whether that is documentation, chat, product tours or phone representatives. If there is limited or bad service, churn will be high.
User experience can impact many of the other reasons on this list - a bad experience makes it hard to get value and can increase frustration as well as reduce confidence early on.
An extension of bad customer service is when companies completely ignore their customers feedback.
Marketing that does not understand the best customer may get sign-ups, but user acquisition costs are wasted on prospects who will never become long-term customers.
David Lecko, CEO
A simple, yet effective approach to collaborative retention is our dashboard. Everyone has access to a proven tool to help move retention initiatives forward.
A cohort is a subset of customers/users grouped by common characteristics. In the business analytics context, cohorts are segmented by acquisition dates.
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