How Getfeedback for Salesforce Systematically Decrease’s Customer Churn

Our best customers are the ones who stay with us. The proof is in the numbers: a 5% increase in customer retention can lead to a 25-95% increase in profits, according to a Harvard Business School study. On the other hand, if a customer has a poor experience with your company, not only might you lose them for good but you might find it difficult to attract new customers due to word-of-mouth.

Did you know:

• 95% of consumers have taken action as a result of a bad experience.

• And of those consumers, 85% wanted to warn others about doing business with the company.

• 63% of consumers read negative reviews via social media.

In other words, when a customer has a bad experience, it can spread throughout their network. You might think customers are forgiving of a bad experience or two, but for 58% of customers, it only takes one bad customer experience to never use a company again.

Why should you care:

If you have a consistent churn rate that’s higher than it should be, that means there’s systemic issues in your customer service pipeline. Once you identify and improve those areas in your customer service system, you’ll see a lasting decrease in customer churn.

Get the data you need to decrease churn:

• Measure customer loyalty
  • Use NPS to segment customers into three groups: Promoters, Passives, and Detractors. For instance, you can offer extra TLC to customers who have a low Net Promoter Score (Detractors), offering to help right the wrong they experienced.

• Define your customers’ expectations from the get-go
  • Win-loss surveys are designed to capture what you are doing right and what could use improvement.

• Find out why your customers are having a tough time
  • CES surveys help you get to the root of customer churn. Rather than asking customers how satisfied they are like the popular Customer Satisfaction (CSAT) survey does, CES surveys focus on the underlying factors that satisfaction depends on.

Additional information on this topic: https://www.getfeedback.com/blog/decrease-customer-churn/

Did you know: Community group leaders get a free Getfeedback account!

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