Customer Churn speaks a lot about a company. It addresses what the company is doing to keep customers happy.
When customers stop using a company’s services or leave a company is called churn. Customer Churn speaks a lot about a company. It addresses what the company is doing to keep customers happy.
What Does Customer Churn Speak About
Churn shows how good is the company in keeping the customers happy. It has a direct effect on the financial perspectives of the company. Hence, acquiring new customers is more costly than retaining an existing customer.
Reasons For Customer Churn
Low Engagement With The Customer Lead To Customer Churn
Sometimes the product is left unused by the customer. Sometimes it is underused. Customers are unable to use all the features of your product. Also, the customer is unaware of the features, and no one from the company bothered to explain them. Therefore, low engagement is one of the factors for customer churn.
Don’t Sell Product, Not Required By The Company: One Of The Key Factor Of Customer Churn
Many times the customer is being sold what is not required by the customer. The features are sold as solutions that a customer doesn’t need.
The customers brought to the company either by false information or pressure do not stay longer. Therefore, this in turn leads to customer churn.
Problem Solving
The success of sales depends on the after-sales service. If your executives are not able to solve the problem, it will be an unhappy situation for the customer. Moreover, if the problem keeps recurring too often, then the customer will not be happy.
Unable Or Difficult To Use
Your product might have a lot of features the customer might find it challenging to use. If so, then the whole effort is wasted. The product should be user-friendly.
Poor user experience leads to churn. On-boarding the wrong customer is not good for the company. Moreover, you will not able to meet the needs of the customer.
After Sales Service
After-sales support is important for the customer. Prompt solutions should be given to the customer. Customers will not be happy with frequent breakdowns and disruption in services.
Many times a company becomes more proactive during the time of contract renewals. Hence, this is one of the key factors of customer churn.
Poor Onboarding Experience
The customer expects that the company will explain all the details and features of the product. Also, executives do not spend time explaining the features and usage of the product.
Toolyt World’s First Mobile Sales CRM
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Toolyt is an extension of the CRM system suitable for any industry. Intrinsic alerts and reports to the Management will give the prevision of the industry, happenings, and preparedness for better sales strategy. It can be integrated with any existing system you are using at present.
