03 fundamental tips to keep customers active for longer and avoid Churn.
The customer is a company's main asset. It seems obvious, but without them no business would exist. When we gain a consolidated base of satisfied customers, the tendency is continuous and lasting growth. We know that in the ideal world a successful business always seeks to increase the number of customers and keep them loyal forever. In the real world, due to several factors (many beyond our control), this is almost utopian in such a competitive market, full of informed, demanding consumers, with the most varied tastes and desires.It is very difficult for a customer to spend the rest of their life consuming products and services from the same brand. Customers arrive, customers go, customers return. For this reason, depending solely on one customer is very risky for any ws data company. One of the crucial objectives of a business must be to reduce as much as possible the number, sometimes inevitable, of dropouts by taking various actions to keep customers satisfied, exceed expectations every day and, of course, win new customers to the point of mitigating the consequences of the number of lost customers in a given period. Let's understand this concept better.
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What is Churn and Churn Rate? To understand what Churn is, let’s look at a simple example: Let's imagine that, thanks to inbound marketing efforts, Uptown ended the month with 20 active customers. Next month, due to the reduction in investments caused by the pandemic, an external factor difficult to predict or control, 2 of these clients had to end their contract.
The sum of the number of customers who canceled services in a given period represents Churn (02 customers in the case of Uptown). Simple, right? If Uptown seeks to expand its customer base, it is necessary to carry out prospecting work so that the number of new customers exceeds the rate of canceled customers, that is, the Churn Rate. But how to calculate Churn Rate? Is easy! The first step is to define the period of time you want to analyze.
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