Reducing customer churn is all about getting to the bottom of why SaaS customers are abandoning the service. How do we do that? A healthy, balanced combination of asking them, gathering the right metrics and giving them space when they need it. Here's how.
1. by iridize 4 Hacks to Help you Reduce SaaS Churn Rates
2. Image source iridize.com Churn is the silent SaaS killer. While most SaaS BizDev strategies focus on improving conversion rates, customer churn is slowly eating away at SaaS customer bases. 3. iridize.com Its not so much about ditching the Quest for the Conversion, as it is about taking preemptive action to reduce SaaS churn rate before your business begins to look like the revolving door to a department store. 4. iridize.com Actually Obtain User Feedback 5. iridize.com Nobody likes lengthy feedback forms. That is why the response rate for those is so depressing. So dont. Pose one question at a time, space them out over a period you find works best, stress the answerers anonymity. 6. iridize.com In short: dont make your customers work for you. 7. iridize.com Getting the Right Feedback 8. iridize.com Most customers are not UX experts, nor are they versed in software implementation, user interface issues or navigation challenges. Image source: David Castillo Dominici @ FreeDigitalphotos 9. iridize.com So break it down for your customers explain what it is that they are being asked to feedback: user experience, customer experience, navigation, clarity of instructions, customer support. 10. iridize.com Hang on to the Data for Dear Life 11. iridize.com Mobilize your resources wisely target users who are exhibiting abandonment symptoms: 12. iridize.com decrease in logins lower micro- conversions logged unsubscribe from newsletters sudden decline of support requests Use the Data, Luke 13. iridize.com Consider using a predictive analytics dashboards to move past the need for analyzing and straight to the user-at-churn-risk bottom line 14. iridize.com Bring Out the Big Guns 15. iridize.com Ultimately, your ability to retain customers depends on your ability to offer the most competitive, worthwhile service. More added value. 16. iridize.com So offer it. Money IS an issue, so once youve singled out users at risk of churn offer them a more attractive package. It may not be THE factor, but it is A factor. 17. iridize.com Turn the Heat Down 18. iridize.com Inevitably, users will leave and some will make it clear they are not interested in further examination of your platform. This may sound counter-intuitive, but: Back off a little. 19. iridize.com Keep track of your churned customers and send them an update on new features/offer new content several months down the line. It certainly cant hurt. Patience, young padawan. 20. Why Iridize Mobile?We Hope That Was Helpful! Ask us more about ways to reduce your SaaS churn rates and improve conversion. iridize.com