No business wants to lose customers. But before throwing more money at the marketing and sales departments, have you ever looked at why some customers churn?
Even with excellent onboarding techniques and being there to help the customer settle in, it can be a little baffling why customers still leave you.
Generally, businesses are more interested in what’s coming in at the top of the funnel.
You can have the perfect funnel in place: marketing helps generate a new lead and nurtures them. They hand them off to sales, sales carefully handles the customer through their many segments and moves them into their first account.
There is often a lot of persuasion, and ‘massaging’ a customer to try and get them to buy a particular product or service.
But after all that effort from the top of the funnel, you find that in two, three or four months time, that customer walks away because the fit isn’t right.
When a customer leaves it’s not always clear why
For software companies, growth and reducing customer churn is vital for survival.
Pacific Crest’s report showed that 33% of software companies ended 2015 with an annual customer churn rate above 15% – well above the acceptable rate of annual churn for software companies, which sits at 7%. These companies are ending each year with a significantly different set of customers than when they started.
Many businesses who experience unacceptable levels of churn turn to those big clunky surveys for insight. But customer satisfaction scores and net promoter scores just don’t show you the exact reasons why customers choose to leave.
There might be one thing your business is doing that’s really bugging the customer. But how would you uncover that?
Watch the webinar
Customer Thermometer’s co-founder Mark Copeman joined Kayako to outline the key ways you can act now, to stop your customers leaving you.
Every business wants to grow.
But so often they turn to costly sales and marketing activity to do it, rather than identifying and fixing areas where customers are churning. It’s a bit like putting money in a savings account earning 1% when your credit card balance is costing you 19%!
Churn stops growth in its tracks.
Learn how to bring those unhappy customers’ pains to the surface and ensure you know what your customers are really feeling so you can catch them before they leave.
Make sure you watch the webinar and find out how to never lose another customer.
About the presenters
The webinar is led by Gary McGrath, Customer Success Consultant at Kayako.
Lindsay Willott and Mark Copeman, co-founders of Customer Thermometer, will be you showing you a handful of simple techniques you can use to seek out those hidden and unhappy customers.