Everyone knows that it is much harder to attract new customers than to keep existing ones. There is no business in the world which has never lost a customer, and everyone is dealing with that problem differently. Some of them immediately start looking for new customers while others start to analyze what went wrong so that they can prevent the next customer from leaving.
The number of people who have canceled their subscription or did not renew it during the given period is called a subscriber churn rate. It is a real headache for many companies because it shows how good or bad you are in retaining your customers and keeping them by your side. So, the lower churn rate means better business performance, and we will provide some useful tips to help you reduce it.
Focus On Subscribers Who Stay
People usually focus on negative things first, but that might be bad for your business. Instead, turn your attention to your retention numbers. You shouldn’t ask yourself why people are leaving. The right question is “What is retaining these numbers?” and when you finally realize what makes people remain subscribed to your business, you can get to work.
Offer Something People Can’t Refuse
Majority business gives something in return to their subscribers. No matter if it is a discount coupon, a free trial or any other type of promotion, that will help you show them you appreciate the time they spend subscribing to your emails or money they spend on your products and services. You can use the valuable information you’ve collected when researching why people stay loyal to your business and give them an offer they can’t resist.
Use All Data From Subscription Forms
Subscription churn can be easily avoided if you wisely use the information your customers provided during the subscription process. It is important to create a form which will help you collect the information you need and learn more about your customer’s interests and expectations. That will help you make like-minded groups of users and created a specific campaign or offer for each group. It is easy to attract people when you offer something for free, but try focusing on targeting the people who will appreciate the long-term value of your products, and want to invest in good quality.
Reengage Your Customers With Target Campaigns
We already said it isn’t much you can do for the people who already left your subscribers list, but re-engagement email campaigns will help you wake up your inactive subscribers and turn them into customers.
Some studies show that it is 5 times cheaper to make a subscriber become a buyer than to gain a completely new customer. Some of the best re-engagement email campaigns are “we miss you” emails like the ones Duolingo uses, and time-triggered reactivation emails which usually offer anniversary treat, like emails ModCloth is sending.
Your email can include some interesting statistics, and those emails are great for subscribers who wanted your product for a while but then they changed their mind. They will help you reassure them that your product is worth keeping, and one great example is the re-engaging email Webflow created, with amazing design and video.
If you treat your customers well they will probably stay loyal to your brand and send other people to you. One of the most important aspects of decreasing subscriber churn is to be a keeper and focus on communication with your customers and keep them involved.
Keep in mind that the main reasons for churn usually have nothing to do with the product, it is usually just poor customer service which causes it. So, make sure you improve your user experience and use the advice we gave you to keep your subscribers churn low.
If you still aren’t satisfied with the results, you can contact Summit Digital marketing experts who will help you keep your retention numbers high!