To avoid and reduce customer churn, Mediapost gives you 5 tips (what to do and what not to do) that you can apply now so that your customers continue to choose you instead of going to the competition.
What is churn?
Churn refers to the measurement of mom database customers who have abandoned or stopped following a company. What does this mean ? They have stopped consuming the brand's products or services.
Churn shows the data of customers who are no longer with the company. To make this clearer, let's give an example: churn shows which customers have stopped subscribing to a blog or have temporarily or permanently cancelled their subscription to a brand's services.
Its technical name is churn rate or cancellation rate .
Reasons why you are losing customers
We tell you three reasons for customer loss .
Not analyzing your sector
It is important to analyze the state of your relationship with your customers. Typically, telecommunications and internet access providers are the sectors that suffer the most from data leaks. The data you obtain from the analysis should not stress you out, but rather be a tool to implement detection and prevention mechanisms.
Not listening to your customers
Empathize with your customers, get to know them and segment them according to their tastes and needs. Make the most of your database, as it is a valuable source of information that allows you to personalize your offer and increase engagement.
You can implement customer listening and loyalty solutions , such as satisfaction surveys, promotional gifts, etc. These are solutions that help customers continue to trust you.
Lack of market analysis and not being competitive
New technological tools and software systems are always emerging, and consumer needs and demands are changing. Be competitive and think ahead so you don't get caught off guard. By planning how to react to new trends, you'll be in a good position where you won't feel lost and you'll have minimal problems, since you've prepared for the changes in advance.
