What’s your churn?
If you don’t know this number, get it.
Better yet, do you know why they’re churning?
When I was building my company Flowtown, we had a 12% monthly churn.
Not good.
That meant that after only 8.3 months we had lost ALL of the customers we had worked so hard to attract & convert?
Just so you know, that makes for a HORRIBLE business.
Your goal should be 8% PER YEAR (for B2B SaaS)!
So if you’re bleeding customers, what do you do?
It comes down to one (or all) of these 5 things to ensure that you’re doing everything you can to keep customers happy and sticking around for the long term.
Now, if you sell to VSB’s (Very Small Businesses), know that your customer’s failure rate (ie. going out of business) – #5 on my list – will definitely impact your growth.
I learned that one from Gail, the CEO of Constant Contact – the first public SaaS company EVER!
Her insights were invaluable…
… and inspired this super simple strategy that can drastically cut down your churn rate.
At the end of the video I share the key tag you should be marking your most “at risk” customers with…
… and how doing so sends a clear signal to your customer success team to step in and save the day!
Once you watch the video, leave a comment and let me know where you’re going to dive in next.
What are do you need to spend some time to help retain paying customers to help re-invest profits into your growth!
Can’t wait to hear from you.
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Dan Martell has advised more startups than his hometown has people and teaches startup founders like you how to scale. (Get the free 3 videos to grow your business here.) He previously created, raised venture funding for and successfully exited two tech startups: Flowtown and Clarity.fm. You should follow him on twitter@danmartell for tweets that are actually awesome.
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