6 Stats That Will Help You Avoid Customer Churn

Even though 2020 has presented a variety of unique challenges, there’s one obstacle that consistently occurs every time Q4 rolls around: customer churn

If you’re worried that a few of your clients may decide to switch partners as we head towards 2021, take a moment to leverage emotional intelligence (EQ) by putting yourself in their shoes:

Each year, you consistently conduct business with the same provider. Perhaps you’re receiving desirable results, and you enjoy working with their company’s representatives. 

However, your inbox is filled with messages from their competitors, who’ve been trying to connect with the hope that you might switch partners and instead, choose to pursue a new relationship with their organization. 

In the past, you’ve ignored these emails. However, their sales team has gotten creative and sent you an eBook tailored to your organization’s pain points, followed by an offer to give you a demo with a reduced product fee if you sign on before the new year. 

And, to highlight their exceptional customer service, they’ve included a personalized, grateful gesture in one of their follow up emails. 

Your interest is suddenly sparked, and you decide to book a meeting… 

If you’re in customer success or account management, these types of situations aren’t ideal— but they’re avoidable. 

In fact, there’s a simple solution that can help you circumvent customer churn: Practicing appreciation

To learn more about the importance of partner retention, check out the infographic below to discover the consequences of customer churn, as well as suggestions for avoiding client disengagement.

6 Customer Retention Stats

Bonus: Searching for a few actionable strategies that will help you avoid customer churn? Click here for 14 Proven Ways to Strengthen Your Customer Relationships.