Have you launched your business by subscription or are you thinking about launching it soon? Then you need to know that churn rate or the attrition rate is a key element to your company’s success and growth. Tips and tricks to maximise your client loyalty and to reduce your churn rate with the ZIQY subscription expert.
What is the churn rate?
We call the rate of loss of your client base the churn rate or the attrition rate. This rate measures the percentage of clients lost over a given period compared to the number of clients at the beginning of the period. This figure has a critical influence on your turnover and the sustainability of your company.
> Your must remember that a client who leaves represents a shortfall which is repeated each and every month.
> To be profitable, you must therefore implement actions which will allow you to minimise your attrition rate and to maximise the ‘lifespan’ of your customers.
Communicate regularly with your clients
Regularly informing your clients about new features relating to your offering is essential to make them want to remain subscribers. To do this, you can use various tools at your disposal: news on your website, targeted newsletters, promotional offers, social networks.
Define an automated email strategy
We should also mention the implementation of an automated marketing strategy. To put it simply, you identify your clients in categories and send each category a different message according to their commitment to your offering. For the client category identified as “very likely to unsubscribe”, you can thus set up a program of specific emails including special offers to encourage them to stay subscribed for longer.
Analyse the main sources of income
If you already have subscribers, you have inevitably rolled out several acquisition campaigns via different communication channels. It is essential to know which channel gives you the biggest number of long-term subscribers; you can therefore invest more in the communication medium which brings you the most qualified and therefore the most loyal subscribers.
Define a process for unsubscribing
Despite the different actions put in place, you will nevertheless see a number of your clients unsubscribe. It is vital to understand why they have decided not to continue with you. Feel free to ask questions when your clients clicks on the infamous “unsubscribe” button so that he/she leaves you as much information as possible about the reasons for his/her departure. This will provide you with important information for the continued improvement of your product or service offered via subscription.