There is perhaps no stat that causes more uncertainty and anxiety than Churn Rate. So what is it? Simply put, Churn Rate is the rate at which your customers discontinue their membership from a subscription of yours. Unfortunately, a high churn rate can affect even the most savvy business owners, but there are several steps you can take to reduce this number and instead keep customers loyal and eager to come back for more.
If you want to make a lasting impression on all new customers, be sure to welcome everyone to your subscription service with a series of genuine, warm onboarding messages. You’ll want to go above and beyond the standard impersonal “Welcome to X” message that most services default to. Instead, issue a welcome message with a friendly tone and a call to action.
Don’t wait too long before sending a follow-up message to determine whether your members have questions or need assistance. Finally, if you have members that activate new features, be sure to offer activation messages that show appreciation and explain the details of the feature in short.
Remember, you can use whichever messaging medium you’d like: email, SMS, instant messenger, or a combination of the three.
Product Walkthrough Tools
If your service entails multiple complex steps, you might want to create a product walkthrough that clearly shows customers not only how to use the service but also how to get the most out of it. Remember, there is nothing more frustrating than paying a steep fee for a service you think will help you, only to find that it is difficult to navigate and that there is very little guidance to help you understand it. Walking your customers through product usage will help ensure that they don’t cancel their memberships out of product disorientation.
Client Success Stories
Keep your subscription members up to speed by periodically sharing success stories and testimonials from happy clients. Not only does this show your members that your company cares about their long-term happiness, it also inspires your members to seek success stories of their own.
When publishing a success story, you should direct your focus to the customer and their experience when you’re sharing a success story. Your members will very easily be able to see through a poorly-veiled sales pitch, so try to produce material that’s as honest and organic as possible.
Automated Nudges & Retargeting
If you have members in your group who are not presently subscribers, sending the occasional nudge is acceptable. You can create a series of subtle ads that encourage members to subscribe to your services. Just be creative about it, and avoid high-pressure sales tactics. Instead, opt for gentle suggestions. Above all else, shoe concrete numbers when making lofty claims, whenever possible. For example, if you want to show prospective customers how your clients have seen a marked increase in web traffic since employing your services, you can display graphs and charts that show a clear contrast between pre-service and post-service results.
Gaining customer memberships is only one step of the process. Remember to keep your members engaged and offer them the occasional opportunity to increase the benefits of their memberships.
We at Automated Dreams understand how much you value your customers and the effort you put into enticing and retaining them. For this reason, we are proud to offer services that streamline just about every common business process, both for you and your clients - from effective website development to personalized messaging strategies.