Customer churn, also called customer turnover, is the rate at which customers permanently stop doing business with a brand. A high customer churn rate may indicate the brand is having trouble keeping customers satisfied. A low churn rate may indicate the brand is providing good value to customers.

Factors that influence customer churn include:

• Speed of service: Can customers get help when they need it or do they get bogged down by long wait times and inefficient technology?
• Efficiency of service: When a customer asks a question, can you give them the right answer on the first try, or does the customer have to contact you repeatedly?
• Personalization of service: Do you provide customers with the channels they want? Do you use those channels to send them individualized marketing messages or generic, irrelevant messages that annoy them?
• Proactivity of service: Do you have the data and personnel to predict customer needs or persuade them to give your brand another chance if they are thinking of leaving?

While some customer churn factors are outside your control, such as when a customer moves to a location the brand does not serve, you can address many that drive high churn rates. OutPLEX can help you do so by:

• Figuring out causes of churn: We can monitor customer interactions, analyze social media statements about your brand, and more. Once we have found the source of the problem, we will tell you.
• Creating a plan: We will work closely with you to come up with a targeted strategy to fix the problem, whatever it may be.
• Implementing the plan across all relevant channels: We retrain live agents, reprogram digital channels, streamline the call center experience, fixing whatever problems we find.
• Assessing the plan’s success: Our team will monitor customer interactions to see if the plan is working. If there is a problem, we can go back to the first step (figure out what is causing churn) and come up with a new plan or modify the old one.

Even when you lower your churn rate, keep a close eye on trends in customer preferences, customer support standards, and emerging technology. These areas are constantly in flux, so OutPLEX tracks them to ensure brands like yours stay ahead of the curve and avoid a preventable spike in customer churn.

OutPLEX can help you reduce customer churn. Call us at 1.866.531.5773 or visit online for a free quote.