Churn Part 5 - Closing the Loop to Increase Retention

Heather Wendt
Heather Wendt HLAdmin, Member Posts: 308 Gain Grow Retain Staff
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In the 5th and final post about churn by Anita Toth, she takes a look at closing the loop in the churn reduction process.

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Using customer feedback metrics to lower churn and increase retention occurs best when it is tied to the company's goals and KPIs. Strong feedback strategies create a flywheel effect, resulting in improving data each time they employ this strategy.

Being able to close the loop with the customer results in strong relationships. Acknowledge their involvement and help them feel that their involvement matters. That will keep them coming back and build loyalty.

This is an area of customer communication that scales well. Use the survey to share applicable results and show them that they are part of a larger community. Use quotes from participants, show them how their input is impacting development. To know that they are helping to shape the product is powerful stuff.

Build anticipation around the next survey. Give them a vision of what the topic will be and how they can help.

Closing the loop is something that isn't commonly done with customer surveys, but the dividends paid out in increased loyalty and customer engagement are strong. Take a look at the blog for some practical ideas on how to do this well.

What are some ways you are already closing the feedback loop with your customers?

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