Work the Customer Feedback Loop!
Not all customers are the same, or have the same risk of cancellation.
Not all customers are the same, or have the same risk of cancellation.
It’s a fact: keeping your existing customers costs your company less than getting new ones to replace ones that cancel; and the longer you keep a customer, the more profitable the relationship becomes.
Attrition might be a fact of life, but that doesn’t mean you should ignore it. Here are a few strategies that can help reduce your attrition.
Do you know the difference between gross and net attrition rates?
Does your attrition rate meet industry standards?
Do you know why that customer just cancelled? How about the one before?
Before selling their accounts many of the dealers we’ve partnered with have asked: “what happens after our acquisition is done?”