Customer churn is an insidious creature. It’s often difficult to pin down the exact cause. This makes it excruciatingly difficult to root out. Use the presentation below to help you break down the leading causes of customer churn. Dig deeper into the presentation for tactical advice on how to structure and execute your attack on churn.
Click here to download the pdf, or view it below.
The data for this presentation was collected from a survey we ran with over 200 responses. Looking across the customer journey, our survey shows that customer success can directly impact 53 percent of the causes of churn. They “own” the strategy and tactics that can tamp down churn in the areas of:
But the arm of customer success is quite long. So, the other 47 percent of the causes of churn are within your sphere of influence. Customer success folks are masters of relationship building and good process. These strengths can be brought to bear on the causes of churn they do not directly control, including:
Weak customer marketing
The voice of the chief customer officer will continue to grow in volume. But the mandate for customer success is not yet fully defined. This implies a level of risk for companies battling churn, as well as for customer success teams.
How much of the customer lifecycle should customer success directly control? If the key customer success metric is customer churn rate, how will you address the challenge that you don’t directly control every customer touch-point?
The goal of this presentation and the underlying survey data is to provide you with a starting point for developing a churn reduction strategy. To develop specific retention strategies for the parts of the customer lifecycle you directly control, and also for the areas you don’t. The tactics you will employ for each are quite distinct. And it quickly becomes clear – fighting churn is a company-wide campaign.