Reduce Churn in Subscription Businesses
Posted: Mon Dec 23, 2024 9:21 am
Churn is the bane of any subscription business. Anticipating the needs of your customers plays a big role in reducing churn within SaaS companies. Churn rates hamper growth and lessen the impact of effective marketing and sales initiatives.
But to anticipate those needs, you need user data. You need to know what problems they are looking to solve with your solution.
With clean data, you can anticipate the needs of your customers and engage them in a way that feels personalized and genuine, increasing the chances that they remain a customer.
You need a way to track usage — or lack of usage — to determine where you need to step in. If a customer is inactive for a period of time, proactively reach out and figure out how to remedy any issues they’re having.
You can configure the Health Assessment to show you metrics that can help reduce churn. For example — users that haven’t signed up in the last week but haven’t gone through your initial onboarding steps.
Reducing churn is about smart prioritization. You can’t solve every problem for everyone. But you can focus on the best opportunities to save accounts.
6. Provide a Better Customer Experience
In a previous article, we covered how customer data plays a vital role throughout the customer lifecycle. Every step of the way, the quality of your data and breadth of its usage directly affects your ability to anticipate customer needs and speak directly, with context, about their experience with your brand.
Companies should strive to create a seamless and consistent thai phone number experience throughout the customer lifecycle. Having a single customer view that all departments can use for context is critical for referencing previous engagements and leveraging what you already know about the customer.
To improve customer experiences, you have to identify where their experience problems lie. You can see where prospects fall out of the sales process, customers churn, and where friction keeps you from delivering a painless experience.
With the Data Health Assessment, you can:
Merge duplicates to enable a single customer view. One customer record means one place to look for engagement context for any department in your company.
Format and standardize data for reliable personalization. You can’t use data for personalization when you have no confidence in its accuracy.
Sync disconnected systems. Get rid of siloed data. Ensure that all stakeholders have access to the data that they need, when they need it.
Customers want to work with companies that can anticipate their needs and offer personalized solutions with a full context of the interactions that they have had with your brand over time.
To deliver that, you need alignment.
But to anticipate those needs, you need user data. You need to know what problems they are looking to solve with your solution.
With clean data, you can anticipate the needs of your customers and engage them in a way that feels personalized and genuine, increasing the chances that they remain a customer.
You need a way to track usage — or lack of usage — to determine where you need to step in. If a customer is inactive for a period of time, proactively reach out and figure out how to remedy any issues they’re having.
You can configure the Health Assessment to show you metrics that can help reduce churn. For example — users that haven’t signed up in the last week but haven’t gone through your initial onboarding steps.
Reducing churn is about smart prioritization. You can’t solve every problem for everyone. But you can focus on the best opportunities to save accounts.
6. Provide a Better Customer Experience
In a previous article, we covered how customer data plays a vital role throughout the customer lifecycle. Every step of the way, the quality of your data and breadth of its usage directly affects your ability to anticipate customer needs and speak directly, with context, about their experience with your brand.
Companies should strive to create a seamless and consistent thai phone number experience throughout the customer lifecycle. Having a single customer view that all departments can use for context is critical for referencing previous engagements and leveraging what you already know about the customer.
To improve customer experiences, you have to identify where their experience problems lie. You can see where prospects fall out of the sales process, customers churn, and where friction keeps you from delivering a painless experience.
With the Data Health Assessment, you can:
Merge duplicates to enable a single customer view. One customer record means one place to look for engagement context for any department in your company.
Format and standardize data for reliable personalization. You can’t use data for personalization when you have no confidence in its accuracy.
Sync disconnected systems. Get rid of siloed data. Ensure that all stakeholders have access to the data that they need, when they need it.
Customers want to work with companies that can anticipate their needs and offer personalized solutions with a full context of the interactions that they have had with your brand over time.
To deliver that, you need alignment.