One of the most common problems entrepreneurs face when starting an online business is keeping their target audience loyal to them. They experience getting ignored only seconds after an online visitor lands on a business website. When a business experiences a situation like this, a customer churn is present. Haven’t heard of it? Well, we got you.
In this blog, we are going to introduce you to one of the most important elements you need to understand when entering the world of business—customer churn rate.
What is Customer Churn?
Customer churn rate, customer churn or sometimes referred to as customer attrition is an occurrence wherein an online audience stops purchasing your products. While you earn new customers for each month, you also lose renewals from your first batch of customers. These customers you lost are referred to as churners. They are the ones who chose not to renew their subscription to you, or simply cancel their connection as your loyal customer.
As a business owner, it is only a must for you to learn how things like reducing customer churn works. It may not seem like it, but the lack of knowledge of what is customer churn rate can have a huge impact on your business which can either push you to greatness, or be your greatest downfall.
Outstanding Tips to Reduce Customer Churn
There are tons of ways on how to reduce customer churn like a pro. To save you from the stress of finding the right tips, we collected them down for you.
First impressions do last. A customer churn usually happens because businesses cannot capture their audience's attention. Having a striking impact on your customer is a must for you to get away from an increase in customer churn rate. Make your website appealing. Let your website design be remarkable enough for online viewers to remember who you are and what you can do for them. This is among the best tips to reduce customer churn which may sound simple and unimportant the first time you hear it. But trust us, having a rocking website design can do more than reduce customer churn. Here in Strikingly, we make sure that our customers are customer churn-equipped. With our wide collection of designer-made templates, you can easily customize your own website and build a striking online presence. What’s more outstanding about it is that you can enjoy it for free!
2. Target the Right Audience
Another exceptional tip to reduce customer churn we can give you is to ensure you know who your target audience is. Our best tips to reduce customer churn include preparing a list of the details you’ll need about your target customers. Before you actually start your business, it is important that you have an exact market you wish to work on. This is very helpful not just in saving yourself from an increase in customer churn rate, but also an unmatched marketing strategy. Not all marketing strategies we make apply to a specific target market so to keep you from wasting money, time and effort, have a clear target audience first.
3. Dig Deep
Next on our tips to reduce customer churn rate is to identify what are the main causes of the customer churn occurrence. Make research on why people are leaving you and your business the moment they land on your website. Analyze each detail and use them as your basis in formulating your next strategy. Some businesses do this part by actually talking to their customers which is also not a bad idea. When you talk to your customer, you get the chance to show them you genuinely care for them and their welfare in online business. Who knows, you might redeem their trust the moment you spend some time talking to them.
Landing pages play a huge role in getting attention from online viewers. Next on our list of great tips to reduce customer churn is to ensure an effective landing page design. Not because you have a colorful landing page design means they are effective. Sometimes how they look isn’t enough. Make sure that your landing pages are relevant and ad-equipped to reduce customer churn rate. Do your own background research on the different buyer personas that can help you build strong landing page designs. By doing these tips to reduce customer churn, you can smoothly save yourself from failed marketing strategies.
5. Connect with Your Customers
Interaction also plays a huge role in reducing customer churn rate. Included on our list of tips to reduce customer churn is having an active engagement towards your clients. Customers like it when you give them attention. It's like you are making them feel more special. Actively engaging your customers with the products and services you are offering are among proven effective tips on how to reduce customer churn. Why? Because when you talk to your customers about your business, you are giving them the chance to get to know your business. When there is interaction, reducing customer churn is more possible because viewers see you are worth the try than your other competitors.
It is not enough that you just interact with your clients. As someone learning the best tips to reduce customer churn, you must also track your engagements consistently. Engagement matters because it helps you identify what areas you need to improve. Tracking your engagements is another story to tell. You need to understand these tips to reduce customer churn because it requires thorough data analysis. By tracking your engagements, you can see how much you have improved from your past marketing strategies and interactions. You can also easily spot whether your previous steps help you improve, not just as a business, but also as an individual.
7. Manage Your Expenses
Understanding what is customer churn rate is also giving yourself a chance to save everything from bankruptcy. Many businesses who cannot reduce customer churn have experienced a massive financial problem. One reason is that website traffic plays an important role in making your website more searchable online. When people don't like your website, they become a customer churn. Each time you get a customer churn, unknowingly, you are weakening your website’s search engine ranking. When people see your reviews got nothing but only negative customer churn, they wouldn’t spend the next second clicking on your website. When you lose a customer, you lose a chance to gain revenue. You’ll only spend more money running a website which does not get the attention you want.
8. Acknowledge Complaints
A presence of customer churn is an existence of a dissatisfied client. When your online business has a high customer churn rate, it means online visitors who visit your website aren’t happy with what their eyes are seeing. And when customers are unhappy, they leave unpleasant comments and dislikes on your website which future online visitors could see. Once your viewers see your high customer churn rate and spots that your previous visitors didn’t like your services, then they will not proceed with transacting with you. They might not even spare a glance on your website. It is like a domino effect which can definitely affect your brand reputation.
Getting complaints and bad feedback doesn’t mean it's already the end for you. There will always be room for improvement. As someone who seeks protection against customer churn, you must learn how to turn each negativity into an opportunity. An opportunity to improve. You should keep the fire burning and make people see you are worth the try. Use each negativity you receive as an inspiration and guide in formulating new ideas on how to make your services more appealing to your customer’s eye. Make them love you even more with the efforts you make just to capture their attention and eventually, customer churn will never be a problem for you.
10. Have A Backup Plan
It may seem not like it, but your customer churn rate can help define what your future will be. If your online business continuously gets a high churn rate, no matter what you do, then things might go hard for you. Having backup plans and extreme knowledge on reducing customer churn rate can help you pick the best decisions in your marketing strategies. If you have plans to launch new sets of products or services in your target market, taking a deep understanding of how to reduce customer churn is also a must. Mastering the art of what is customer churn rate can be your secret weapon on your future ventures, leading you to the success you’ve been wanting.
Reduce Customer Churn with Us!
Maintaining a professional and stable image is a powerful tool in the world of business. Audiences have a constantly changing perspective in businesses they transact with. One moment they are adoring a product, then right at the moment they see something more appealing to their eyes, they’ll immediately change their minds. This is one of the reasons why businesses continuously try to improve their online presence—to maintain a good and powerful image.
If you can keep your audience coming in and out on your online business website, you are considered ahead of your competitors. If audiences love visiting your webpage, then you are considered one of the best. And if you are looking for ways on how to keep yourself above your competitors, we in Strikingly got a lot more to share with you. Interested? Chat with us today!