Focusing on lowering your churn rate low could be a sensible strategy for your business. Did you know it can be more expensive to acquire new customers than to keep your existing ones? But are you stuck for ideas on how to reduce churn? Here are some strategies that you could integrate into your customer retention strategy:
1. Level Up Your Staff
Efficient staff could help to reduce churn for a number of reasons. They can keep customer satisfaction rate high, improve your onboarding process, reduce effort for customers and more.
Are your staff up to date on the latest features of your product? Are they tuned in to their emotional intelligence? Can they keep their cool when talking to an irate customer?
Efficient staff training may help to improve many aspects of your business that could be influencing your churn rate. E.g. If a support agent isn’t well trained on a new feature, and a customer has a problem with it, then they may become frustrated and possibly leave if the advisor can’t offer them a high level of support.
2. Improve Onboarding
If your onboarding process is confusing and does not give enough support to your customers you could lose them here. Some tips that could help to improve it include:
- Communication: Customers are getting to know your product and your company at this point in their journey. Give them enough support and make it easy for them to navigate around your product. Live support could help here.
- Personalization: Tailor your onboarding to each customer.
- Optimization: Monitor metrics, analytics and listen to customer feedback to keep on top of what is and isn’t working.
3. Reduce Effort with Live Support
In a study by the Customer Contact Council, one of the biggest factors for increasing loyalty was reducing customer effort. Using live support software as part of your customer service could help to reduce effort in a number of ways:
- Reduced Repetition. Using pre-chat questionnaires or transferring details of client’s issues from one staff member to another can lower the amount of times clients have to repeat their issues.
- Screensharing: With screensharing, agents can see exactly what the problem is and talk a customer through it without them having to describe too much.
4. Launch a Loyalty Scheme
Rewarding long term customers could help to reduce churn. In a survey by Bond Brand Loyalty 79% of customers said they were more likely to keep coming back to a company that had a loyalty program. Check out Xeno’s article for advice on creating a loyalty program here.
Reduce Concern Over Churn
Hopefully these ideas gave you some food for thought if you haven’t explored them already.
Live support can be a great addition to your churn retention strategy. Xeno is a quality live support software full of features to make using live support easy and efficient, including a customer orientated ticketing feature, post-chat surveys to listen to customer feedback and a range of metrics. Get started today.