Keeping Your Customer Base
The Challenge
Studies have shown it costs 5X more to get a new customer than to keep an existing one. This is especially important to software and services businesses with recurring revenue. Customer churn holds back the growth curve dramatically.
Losing 2% per month adds up to a 21% loss over the course of a year. That’s a lot of ground to make up just to stay even.
Customer churn affects every business, but some more than others. Saas businesses can measure churn effectively, but may be overwhelmed by data to combat it effectively.
The Solution
We analyze underlying trends to uncover what is driving customer behavior–both those staying and choosing to leave.
In a recent customer project there were three elements holding back growth. Measuring customer engagement provided a base for improvement. Complexity in specific functional aspects of the system contributed to low engagement and high churn. Redesigning these elements for greater usability helped turn the corner. Customer retention soared, unlocking growth.
Hold on to your customers
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