REDUCE CHURN: CAUSES OF AND SOLUTIONS FOR CUSTOMER CHURN
Reduce Churn
Tackling churn can be daunting, but the first step is figuring out why your customers leave. In this infographic, we show you how to reduce churn by tailoring solutions for different customer types.
Cause
- Customer has a personal life change (i.e., having a child.)
- Customer has a personal financial change
Solution
Offer different pricing
Cause
- The product is poor quality
- The customer no longer needs the product
- The product is overpriced
- The customer has received too much of the product
Solution
Offer an alternative product
Cause
- The customer is a victim of fraud
- The customer’s information is incorrect
- The customer’s account is delinquent
- The customer’s account is on hold
Solution
Update customer information
