Ways to Take Action When Your Subscribers Are Leaving

Why does voluntary churn occur?

  • Customers are not satisfied with the product. Have you delivered what you promised the user? If not, a product redesign may be in order.
  • The product is not used enough. Is it possible that your customers have changed their daily routine and this in turn has impacted their usage patterns?
  • The customer can no longer afford the product. Has anything changed in your target users’ incomes or spending lately, and how does your product fit in their new pyramid of needs?
  • Product value is not clearly perceived. Are users left feeling like they’re getting their money’s worth from your brand, or are you underdelivering in value?

How do you predict voluntary churn?

How do you prevent voluntary churn?

Get your pricing right

Optimize the customer experience: onboarding, service, and engagement

Send renewal reminders in due time

Be more vocal about automatic renewals

What can your business do to combat churn?

  • Featuring a pause subscription option. Let customers pause their subscription as an alternative to canceling it entirely.
  • Offering an option to downgrade. In special situations, you could choose to let customers downgrade to a less feature-rich plan, in the hopes of keeping them on board.
  • Offering options to upgrade. By contrast, there may be customers seeking richer features, although they aren’t yet ready to commit to an upgraded plan. For these, you could set limited upgrades to the next plan, just so they get a taste of the extra potential.
  • Offering a discount for upcoming renewals. If customers are reluctant to renew for the next period, try to get their attention with a general discount for loyal customers who renew.

And when users do churn?

  • Proactively extend their subscription. Help customers out with an extension of their subscription for a limited time, if it makes sense and if it doesn’t come at too high of a cost. Some may be grateful for this outreach from you and may reconsider their intention to exit.
  • Offer case-by-case discounts. You may not have deployed a discount across the board for all your customers, but you can still do it for special customers in an attempt to convince them to stay. They may incur additional product value from such an initiative and be less likely to churn.
  • Collect feedback and act on it. Consider implementing exit surveys and campaigns to get a better understanding of why customers are leaving. Ask them about their reasons to cancel, ask for recommendations for better support from your side, and try to understand why the relationship didn’t work well in their case. Use this information to target dissatisfied customers with discounts and to close the gap on the features your churning customers are looking for.

2Checkout (now Verifone) is the leading all-in-one monetization platform for global businesses built to help clients drive sales growth across channels.

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2Checkout (now Verifone)

2Checkout (now Verifone)

2Checkout (now Verifone) is the leading all-in-one monetization platform for global businesses built to help clients drive sales growth across channels.

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