Losing customers is never easy, but losing avoidable churn is especially bad for your business.
Avoidable churn happens when customers leave due to reasons that could have been prevented or resolved. These are customers that you could have retained, and their departure hurts your business more than losing customers who had genuine reasons for leaving.
So, what can you do to get these churned customers back and reduce future churn? Here are some tips:
Avoidable churn is bad for your business for a few reasons. First, it’s more expensive to acquire new customers than to retain existing ones. Losing avoidable churn means losing revenue and incurring the costs of acquiring new customers to make up for that lost revenue.
Second, avoidable churn can damage your reputation. Word-of-mouth is a powerful marketing tool, and if your churned customers leave negative reviews or share their negative experiences with others, it can harm your business’s image and deter potential customers from choosing your product or service.
If you’re struggling to prevent churn and turn customer feedback data into actionable insights, Eclipse AI might just be the solution you need. Eclipse uses generative AI to help you make sense of multichannel customer feedback data, so you can identify and resolve issues before they lead to avoidable churn.
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Not all churned customers are worth trying to win back. Some may have left for reasons that are beyond your control or that are not worth the effort to resolve. To identify which customers to win back, you need to segment your churned customers based on their reasons for leaving.
Some customers may have left due to poor customer service, while others may have left because they found a cheaper alternative. By segmenting your churned customers, you can prioritize which ones to focus on and tailor your approach to their specific needs.
Once you’ve identified which customers to win back, the next step is to develop a strategy to win them back and reduce future churn. Here are some tips:
a. Reach out to them personally
Reaching out to churned customers personally shows that you care about their experience and that you’re willing to go the extra mile to win them back. Personal outreach can take the form of a phone call, email, or even a personalized video message.
b. Offer incentives
Incentives can be a powerful motivator for customers to return. Offering a discount or a free trial period can entice churned customers to give your product or service another chance.
c. Address their concerns
If customers left due to specific concerns, address those concerns directly. For example, if a customer left due to poor customer service, offer to assign them a dedicated account manager or improve your customer service processes to ensure a better experience in the future.
d. Stay in touch
Even after winning back churned customers, it’s important to stay in touch with them to ensure that they remain satisfied and to prevent future churn. Regular communication, such as email newsletters or special promotions, can keep them engaged and remind them of the value your product or service provides.
In conclusion, avoidable churn is bad for your business, but it’s not the end of the world. By identifying which customers to win back and developing a strategy to win them back and reduce future churn, you can turn churned customers into loyal ones and improve your business’s bottom line.
Don’t let avoidable churn hurt your business any longer. Let Eclipse AI turn your multichannel customer feedback data into actionable insights and help you retain your valuable customers. Contact us today to learn more.
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