5 Ways to Reduce Churn and Make Your Customers Happy
5 Ways to Reduce Churn and Make Your Customers Happy

5 Ways to Reduce Churn and Make Your Customers Happy

What business doesn't want to attract new customers and retain existing customers? Most businesses focus on the former (attracting new customers), but it actually takes less effort to retain clients than it does to look for new clients. Many current studies put a number on this: it costs 5 to 10 times more to attract a new customer than to retain a current one.

How can you come out ahead when it comes to retaining customer retention and reducing churn (the rate at which customers stop subscribing to your business)? Here are some tips for keeping your customers coming back and saving time and money in the process.

Build Relationships

This may seem like a given, but building relationships with your clients is one of the most important, and easiest, things you can do to retain them. If you take the time to understand your customers and their needs, they will notice. Contact them periodically with a note or article that made you think of them. If you pleasantly surprise a client, they’re more likely to remember you positively. And talk to multiple people within the company; you never know where you will find your strongest advocates.

Set Expectations and Surpass Them

If someone’s ever told you they would do something by a certain date and you watched the deadline come and go, you know how frustrating it is when someone does not meet your expectations. Especially if they chose the date in the first place. When you set expectations for clients, they have an idea of what’s coming. If you can, pick a deadline a bit farther than you expect you’ll need; it is much better to surprise clients with an early product than to disappoint them by being behind schedule.

Have an Effective Feedback System

It’s important to hear what clients and customers are thinking. If they’re happy or unhappy with one of your products or services, they may or may not share these feelings without being asked. Rating a long list of qualities on a scale of 1 to 5 usually doesn’t cut it to get customers’ true feelings. You want to hear what you are doing that’s amazing and what could use some improvement, so you can make your business the best it can be. Does a customer have a concern? React to it, but also share it within the company so you can prevent complaints in the future.

Show Why You Matter

These days, the bottom line often wins out, so make sure you show why your product or service is important to the customer. Your goal should be to provide value anyway, but your clients need to see that as well. Ask questions to keep up to date on your customers’ needs so you can continue providing the best and most effective service.

Be Proactive

Much of what these tips boil down to is being proactive in your relationship with clients and customers. Jump on any problems before they arise instead of trying to put out fires. Call to ask whether they’re happy and whether you can do anything to make their experience better. If you won’t meet a deadline, announce that as soon as possible. Create and share content that answers common questions. Anticipating your clients’ needs shows you take your business and your relationship with them seriously, and that’s something clients really appreciate.

You cannot completely avoid losing clients, because some are just not the right fit for what you do; however, many relationship can be saved using these tips.

Do you need more time to work on customer retention? Try outsourcing payroll, benefits, time tracking and reporting with Paycor’s Perform line of products. For more information, get in touch here.


Sources: Inc., Entrepreneur

More to Discover

3 Reasons to Invest in a Learning Culture: Recruit, Retain, Engage

3 Reasons to Invest in a Learning Culture: Recruit, Retain, Engage

Learning is a win/win for employers and employees. Learning-driven organizations tend to be more efficient, create more customer value and market leadership, and report higher customer satisfaction. Employees of all ages, especially Millennials, see re-skilling and upskilling as critically important, and often it’s the deciding factor in their decisions to take a new job or stay at their current company.In Paycor’s Guide, “3 Reasons to Invest in a Learning Culture,” you’ll learn how to invest in and build a learning culture. You’ll also learn the “why behind the what,” and see firsthand how your company’s learning impacts your ability to recruit, retain and engage talented people.Download Paycor’s Guide for actionable tips and insights...

Learning Management Case Study: Gerber Poultry

Learning Management Case Study: Gerber Poultry

With nearly 500 employees, Gerber Poultry was looking for a solution to drive efficiencies around training by automating the process. Specifically, they needed a tool to deliver personalized training courses to employees, track completions for compliance purposes and eliminate the manually-intensive work that was required for Gerber’s HR team.Read the case study below to learn how Paycor Learning Management has not only transformed Gerber Poultry’s learning program but helped to increase employee engagement.

Case Study: Shelba Johnson Trucking

Case Study: Shelba Johnson Trucking

After experiencing numerous implementation challenges and unreliable customer support Shelba Johnson Trucking had enough and began searching for a reliable HR and payroll provider. Read the case study below to learn how Paycor’s HCM platform helped eliminate manual processes and offer supervisors more visibility into hours worked and time off requests.

Webinar: Industry Spotlight: Higher Education - People Management and Labor Metrics that every CFO and President should know - 1/22/19 @2pm ET

Webinar: Industry Spotlight: Higher Education - People Management and Labor Metrics that every CFO and President should know - 1/22/19 @2pm ET

Paycor reviewed proprietary data from nearly 4,000 customers to identify key metrics that uncover opportunities to lower your labor costs and increase the productivity of your people. This session will: • highlight key areas of your business operations (recruiting, labor costs, and turnover) and detail true operational costs. • Identify key metrics that can be tracked and benchmarked for improved performance. • provide a cumulative and holistic look at the financial impact to your organization. Dean Bishop, Paycor’s ABACC Relationship Manager, will analyze the critical labor and people management metrics that matter to you and your executive peers. Plus, he’ll provide some tips to start benchmarking and implementing these metrics.Paycor,...