Losing customers can be a disaster when you're just starting your company. Therefore, increasing your customer retention and reducing churn should be a high priority item.
But, sadly that's where the story ends for too many startup CEOs. That's why I'm showing you three simple and smart ways you can reduce your customer churn in this short video. If you implement these three actions, your churn will be reduced.
Read The Video Transcript Below:
So how do you reduce your customer churn rate when you're just getting started in your startup? Well first let me give you some general advice and then I'll go on to three specific things that you should do.
First, the general advice. Treat every customer like they're your only customer when you're starting your business. And guess what? You may not have too many customers when you're starting, so that makes the job a little bit easier. But even as your customer account grows, really have this philosophy of treating every customer like they're super special. It will pay off.
Now for the specific advice. Number one, as painful as it is, do phone support, it will pay off. Most people don't want to do it. You should do it because people like talking to people when they have problems so it pays off. Answer the phone, have a phone number listed on your website for support. Don't just show people in email thing that they can send information to do this. It will help.
Number two, measure your net promoter score. NPS scores. I used to hate them. I used to think it was garbage. I'm a believer now. Do this It will pay off for you if you measure NPS score, because guess what? You'll learn how you're doing, especially when you set a baseline and you start actively measuring this again and again and again. It will pay off. I would do this about every six months. And I think you're gonna learn a lot about how your business is truly doing.
And then number three. What's the third one? Answer every help request within five minutes. That's right. Five minutes. Yeah. That's a hard goal to get to, but you can do it if you're responsive. Speed kills when you're a startup, because that's the one thing larger companies are horrible at. They're not as responsive/ Yhey don't care as much about their customers as you do. But if you care and you care more than your competitors do, this will pay off for you. Trust me on this one.
So those three things, answer the phone, net promoter score, and respond to every request within five minutes. It will pay off. And treat your customers like they're your only customers. I'm Brett at www.brettjfox.com. Have a great, great day.