.Churn is not the problem, it’s a symptom.
To stem the flow of customers leaving your product or service, you need to assess your business holistically. See where the gaps are and close them.
Here, we’ll discuss some causes of early and mid-stage churn, and how to make sure your customers stick around.
We all know what it feels like to love a new tool for a week or two, only to start feeling like you’re running on a treadmill to nowhere. Remedy this by keeping your customers engaged. Continue to nudge them towards the next usage milestone.
Provide them with individualized encouragement as they go. For example, if you use tier pricing, offer free upgrades as a reward for frequent. This will promote brand loyalty and make customers feel valued.
We once heard Patrick Campbell—Co-founder and CEO of ProfitWell—give a session on retention. It was, in part, the inspiration for this post.
One of the most interesting things he touched on was the importance of treating payment failure as an opportunity instead of as inevitable churn.