12
REASONS CUSTOMERS
CHURN
AND HOW YOU CAN PREVENT IT
1
THEY DON’T SEE ROI What to look out for: Decrease in usage or inactivity after sign up What you can do: Review their goals set with your product and guide them throughout the onboarding/adoption phases so they aren’t left to their own devices early on.
2
SLOW IMPLEMENTATION What to look out for: Accounts not fully set up
What you can do: Establish an internal customer journey map and use it to help guide users through the optimal adoption plan and notify you when a customer has stalled.
3
LOSS OF KEY USERS What to look out for: Decline in interaction with advocate What you can do: Oer switchover training for new users and make sure you know more than one person on the team. Maintain high-level visibility to keep management onboard.
4
POOR UTILIZATION
What to look out for: Low usage or usage drop, user engagement is stagnant
What you can do: Make sure you have clear parameters that help identify when a customer has “poor adoption/utilization� and set up training to guide these accounts to value.
5
NO RECOGNIZED VALUE What to look out for: Number of support tickets, question value of investment What you can do: Help benchmark your accounts’ engagement over time so they can see where they are improving. Show statistics that demonstrate the impact of their investment.
6
LACK OF FEATURES What to look out for: Feature requests or feedback from users
What you can do: Reach out to source feature requests and monitor usage within dierent modules so you can ask for feedback that you can share with the product team.
7
NEW MANAGEMENT What to look out for: Information about management change What you can do: Proactive call to introduce self and solution to new management and oer training.
8
PRODUCT ISSUES
What to look for: Increase in support tickets or calls for help What you can do: Be knowledgeable, empathetic, and oer solutions/alternatives in a timely fashion. Then make sure to tell your development team to ďŹ x the bugs.
9
CHANGE IN NEEDS What to look for: Requests for advanced features or lower fee structure What you can do: Share this feedback internally and see if there might be options to scale up or down on the product. Communication is key.
10
NOT A FIT
What to look for: Customer’s understanding/ expectations of your product are not accurate
What you can do: Participate in the tail end of sales discussions and oer a clear path for implementation/onboarding to set clear expectations.
11
THE PEOPLE FACTOR What to look for: Customers not clicking with team during onboarding. What you can do: Quickly evaluate who would be the best ďŹ t on an account so you can align the right CSM with a customer. Alignments can be made based on past experience, personality, etc.
12
CUSTOMER ACQUIRED What to look for: Information about company acquisition What you can do: Ask your contacts to make introductions to their new counterparts. Just because they are standardized on a different solution doesn’t mean that can’t change.