Three strategies to fight churn.
The markets are down, currencies are down, and inflation is up. While every downturn is different, these signals are familiar and they suggest we’re nearing a recession. New sales leads will start to slow, win rates will narrow, deals will take longer to close, and customers will start to churn. It can be a scary time, but we’ve been here before — and there’s a playbook for how to weather these conditions.
We saw this work when Untappd, a geosocial networking platform for beer aficionados, spotted a pattern of distress affecting their smallest customers. As lockdowns took effect, these micro-businesses in the restaurant and bar industry were trying to cut every cost. Knowing which customers were feeling the most pain was key to how Untappd was ultimately able to retain them.
We then began by engaging with our customers in the most at risk cohorts. We asked them if they were struggling and how we could help. We talked about how other customers in their industry were dealing with its challenges and decided to be as flexible as we could with them. If our conversation resulted in them asking for different things, we gave them the benefit of the doubt. If they asked for a pause in payment, the answer was yes.
To do this, you’ll want to monitor your product usage data closely and reach out to any customers whose usage dips. Your Customer Success team should ask them how they’re being impacted by the downturn, and offer any resources and expertise.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Vitalik Buterin on the crypto blues: Focus on the tech, not the priceThe Ethereum co-founder offered his guidance in response to a Dec. 3 post from crypto investor CoinMamba, who echoed the sentiment of many crypto investors at the moment declaring they were 'Kinda exhausted” after years of market watching.
Consulte Mais informação »
OPEC Agrees to Stick to Its Existing Policy of Reducing Oil Production Ahead of Russia SanctionsOil prices have fallen to roughly $87 a barrel from more than $120 in early June ahead of potentially disruptive sanctions on Russian oil
Consulte Mais informação »
Ford Focus RS Edition FPM375 | SpottedThe last RS was a brilliant if acquired taste - and probably the perfect antidote to an anodyne EV age 💪
Consulte Mais informação »
GRAY TELEVISION FUTURE FOCUS INTERN - KTUU in Anchorage, AKAre you among the best and brightest at your college or university and are contemplating what's next? Life is short. Stop waiting for “real life” to start and put your knowledge to the test. Launch your media career with Gray Television's paid internship program! As a _paid_ intern, you won't si...
Consulte Mais informação »
Which Will Prevail: Musk's Social Media Controversies Or Musk's Machine Focus & Innovation?This article compares the various viewpoints as to whether Elon Musk or the machine he's popularized will win out.
Consulte Mais informação »