How to Proactively Identify and Save At-Risk Customers: An Essential Guide
Identifying at-risk customers can help you in saving a fortune before it is too late. Here is an informative and essential guide that elaborates on how to do so.
Your at-risk customers haven’t gone just yet. But, it can save you a fortune if you could get some familiarity with the churning signs real quick. That would give you a lot of information from letting them go. Certainly, there are times when losing a client is inevitable. Then again, these are instances that are few and far between. Before we dig into what can be done to save the at-risk customers, it is better to kick start with the ‘signs’, or the red flags that you must not ignore. Here is a glimpse of what you’ll be delving into today:
How to identify at-risk customers
1. Review your Online Community
2. The rise in Support Tickets
3. Tune into Website Tracking
How to proactively save at-risk customers
1. A Stellar Customer Onboarding Experience that does all the talking
2. Kick start the renewal quickly
3. Use automation to monitor customer behavior
4. Focus on building an individual relationship
Although a customer might churn for any reason, it is pertinent to look at things that they do (or don’t) that can be an early indication of leaving. By paying heed to the following, you stand a good chance of keeping your at-risk customers from saying goodbye. Here is how:
A customer might or might not come directly to you and claim a hefty dissatisfaction from their end. So how do you know whether they will stick around or shun you? A simple way to ascertain is by looking into your online community (if you have one). Leverage your client’s online behavior and immediately reach out to them if you see some red flags.
Some of the warning signs include a negative comment or a dissatisfying product review from an angry customer. This is when you are supposed to invest your time, energy, and resources into the issue and affix it as soon as possible.
The problem with the support ticket is you don’t want too much of them and neither too less, but just about right. However, when you notice a sudden surge in the number of support tickets, this can be a big reason to worry.
This sign shows that they are frustrated agitated and the support team is not helping them. You grab this opportunity straight away and turn them into escalations. Get these resolved as fast as you can. This is also the right time for you to step in and contribute additional training and education.
It is time to track down your customer’s activity on your website to know what the situation looks like. Here, you will be clearly able to see if a customer is viewing your ‘how to deactivate or cancel’ pages. This is a clear indication that you are a step away from losing a customer.
Aside from this, if you see a client taking no action to change their account status, that too calls for no good news. Reach out to these clients and figure out their underlying problems. Discuss the issue with your support team and bring out a quick resolution.
Now that you know and see these early warning signs, you must do something to retain your gems. Here are a few battle-tested tips to get you some thinking:
A good ‘first-things-first’ is by optimizing customer onboarding. For starters, create personalized targets and ensure that they are not facing any bottlenecks in using your product or service. It might be possible that your at-risk customer is facing issues to adopt your product. In such a case, providing them with informative materials like how-to videos, webinars, and links sounds like a good idea.
It accounts to be a good strategy to remind the customers when the subscription is about to end. For that, you will have to plan early and get proactive with your engagements. Try to solve their potential issues and render additional support before they churn away. Your helpful resources might pull them back from the urge to leave. Also, alleviating a client’s pain points and assuring their decision to renew quickly will see that the renewal tenure goes right as planned.
It could be really challenging for your team members to be on the lookout for a churning client, let automation handle the task. With the right tools, you can easily determine triggers and detect when there is an at-risk activity. Enabling automation cuts the overload on a CS member to look into the matter manually. Aside from monitoring customer behavior for you, it will ensure that no client’s troubles go overlooked.
What customers severely dislike is having a conversation with a bot. And that is why personalization is the key. Let the customers know that you pay attention to their needs and expectations. And never, and I mean never, take them for granted. They really want to see your care quotient and that you are here to hear them. The key to customer loyalty is succeeding in their expectations and making them feel important. Just in case, a customer does not see the above, they will churn away in no time.
Spot churn quickly by learning how to identify at-risk customers. And then let them stick around to you with the help of a stellar customer success platform. Having the right platform can save you a ton of time, manpower, and energy. Keeping an eye on each of the customer’s accounts which is at risk of churning away manually can be challenging.
Hence, using a great customer success platform will render you with proactive monitoring and quick solutions. Additionally, the power of automation dictates you all the right, appropriate steps that you should be taking. Follow the best practices and see how your clients stick around with you.
Originally Published November 26th, 2020, Updated December 30th, 2020
Simran hails from the content marketing backdrop with extensive knowledge in blogs, articles, and technical whitepapers in the non-fictional domain. She uses her 'gift of the gab' to explore new possibilities on her way and to make an exquisite impact on her readers. In her spare time, she likes to read journals on artificial intelligence or play with her cute kittens. You can connect with her on LinkedIn here.