How to Track and Stop Customer Attrition

For those of us who have a business, no matter if it is a home based business or a store front there is one thing we ALL need. We all need customers. You can call them customers, clients, team, consumers, or some other form of identification. No matter what you call them, if you don’t have someone purchasing products, or a service from you there will not be a business for very long. A business runs on revenue. You may provide products to consumers, or a service, no matter what your business is based on, if there is no one who wants what you have to offer the business will fold.

So you need to keep customers returning and you also need to add new consumers to your business. There are many ways to accomplish these things, such as awesome customer service, a product or service people value and want or need and marketing to attract new consumers. Customer satisfaction is huge to keeping your business revenue stream.

For those of us in business or not we all have heard and know certain business terms such as customer satisfaction, marketing, consumer, product, service etc. However there is a new term that is being bandied about in the business world and it is a word we need to know and beyond that know how to manage it. This term is customer churn. According to Superoffice, Customer churn is “calculated by the number of customers who leave your company during a given time period. In a more down-to-earth sense, churn rate shows how your business is doing with keeping customers by your side.” And the main reason we don’t want customer churn is that bottom line is it just costs to much to lose consumers.

Losing customers is a deadly thing for businesses and can cause them to go out of business. so keeping customers happy is a vital part of every business plan. So how do we do that? How do we keep our customers happy and keep them with us. We don’t want them leaving to go to another business for what we are providing or even lose interest in our business. It is very important that we catch them at the beginning of their experience with us and then keep them with us. This practice is called onboarding. ChartMogul states that onboarding is a vital to businesses.  They frame it in this way, “Customer Onboarding’ is an umbrella term that’s often used to describe the entire process that users go through when they start their journey as a customer of your product or service. The onboarding experience can define the ongoing relationship your customer has with the product.” So keeping customers happy from the very beginning is critical to the health of your business!

Now let’s say that you have done everything you can to onboard your customers properly, and you have an excellent product or service, wonderful strategies to keep customers happy and returning and you provide amazing customer service. You may still lose customers for a variety of reasons. But how do you know? How do you even know if you are losing your customer base? This is the tricky part of business. You may have a myriad of ways to track your customers and keep them happy, but losing them is something no business wants. We want them to keep coming back!

This is where a company like UserIQ comes in. They can help you track your customer loss, and prevent it from happening in the first place. Their website states: “Being proactive about customer success means helping users develop an immediate understanding of and connection with your product from the start. We help you do that in a data-driven, scalable and customizable way.” EVERY business should have a customer success platform, and UserIQ can provide that for you!

If you want to know how to keep customers in your business and them keep them coming back, this company has a proven track record of a data driven way to easily distinguish thriving customers and ways to see where groups and features need your support. Once you know this information you can move struggling users toward success, thereby increasing your business revenue and long term success!

 

 

Leave a Reply

Your email address will not be published. Required fields are marked *

CommentLuv badge