Show Notes
Why people leave:
● See no value within first billing period
● Do not see equivalent value within first billing period
● Overwhelmed by the product, so much to do, so little time
● Run out of money
For example…
Membership Site, buys access, logs in, 100 things to do, can’t figure out where to start, cancels and leaves because it’s too overwhelming. Same can be applied to a software company, LMS site.
For product stores
Churn can be the amount of first time buyers who don’t return
Ways to ensure people stay
● Ensure they see equivalent value within the first billing period
○ Be available for questions
○ Provide constant guidance and assistance
○ Automate on-boarding
○ Provide key benchmarks that “appear as value!”
○ Validate the customer experience
● Continue to provide value long term
○ Videos
○ Blogs posts
○ Podcasts
○ Insights
○ Strategies
○ etc...
What to do when people leave?
● Send exit survey
○ Find out why the left
○ Collect key APIS/reasons
● Stay in touch
○ Keep them on the list unless they unsubscribe
○ Send them “veteran” promotions and deals for reactivation
○ Continue to provide value
● Don’t take it personally
○ Unless they make it personal
● Clear refund policy
● Make it easy to come back
○ Discount for reactivating
○ Instant reactivation
○ Account “Pausing
#WordPress
#Churn
#GroundHogg