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How do you reduce churn?
8% monthly churn means you have to replace most of your customers every year just to stay flat.
How do you fight it?
I'll go first:
- Consistently deliver more value
- Listen to ex-customers
- Increase product adoption
- Build a brand
- Build community
What else?
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Tetiana Nikolaieva
Now I'm thinking about what should be on the first page of the site so that potential customers become new real customers.
Take, for example, our product: a time tracker for tracking working hours. Is there something that customers want to see on the first page of the site? What are they looking for confirmation?
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I’d say the list is quite generic…. . I’d start with understanding reasons for Churn - what is competitor offering or what core features you don’t offer or perhaps any pain point or poor service that make customer look the other way. Too expensive? Secondly think of cross sell features / other products to make it a no brainer for customer to stay.
Brand and community , customer may stay with you for a cheaper price even if they don’t like the brand. And community is not enough to reduce churn significantly. My 2 cents