Asking for feedback gives you the opportunity to make your product or service the best it can be.
But don’t forget to reach out to the right customers . There’s a difference between a subscriber who didn’t make it past a free trial, and a lifelong customer who unexpectedly canceled after years of loyal service.
You won’t always hear back from customers who are cpa email list churning, but when you do, the insights are often very worthwhile.
Over time, recurring patterns will emerge and you’ll be able to categorize the reasons for turnover into different activities. With enough data, you ’ll be able to identify which challenges need to be addressed as a priority , and your turnover rate will plummet.
So, collecting feedback about your product and the overall experience during the critical period is a key part of having a long-term relationship. Then monitor, adjust, and repeat the cycle !
Increase average customer spend
If your cash flow is negative, you need more revenue from new customers to replace the lost value, otherwise your business growth will suffer.
Here, negative churn arises when the upsells and cross-sells from your customer base exceed the revenue you are losing due to churn.
In other words, by increasing the average customer spend of your existing customer base, you can recover lost revenue . One of the most common ways to do this is by offering upsells with each purchase.
The best time to do this is after a customer has just made a purchase . This could be after you've billed a customer for their annual subscription, or before you've shipped their most recent order.
It’s important to mention that increasing your average customer spend doesn’t just benefit you, it provides more value to your customers.
Create a support strategy
Have you set up a support team to handle any questions that arise? This step becomes a game changer between you and your competitors.