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How to Beat Customer Churn-with Irit Ezips

Name: How to Beat Customer Churn-with Irit Ezips
Uploaded: 2022-06-08T04:05:06+00:00
Duration: 15 min 24 s

CustomerSuccessBox

Customer Churn happens when customers leave your business for a reason. They no longer interact with your business leaving you with less number of customers and lower revenue. It is calculated as a percentage of customers lost compared to the total number of customers over a specified period of time.

It’s crucial to monitor churn because if left untracked, it’s that leaky bucket that will kill your SaaS business. Furthermore, retaining customers is less expensive than acquiring new customers. Hence, gauge underlying causes that contribute to churn to prevent it from happening.

This is the third video in the video series, a part of our newsletter-#SuccessBound. Here we talk to Irit Ezips about everything regarding churn.

Irit Ezips is the Chief Customer Officer and CEO at CSM Practice. She has been consistently voted top Customer Success strategist since 2013 and is frequently featured as a speaker at conferences and Customer Success publications. Irit has played a pivotal role in shaping Customer Success best practices and methodologies.

Watch this video to get insights from Irit into why churn occurs and how you can manage customer churn at your organization. Here are the timestamp details. Skip to the part that excites you the most.

Timestamps:

00:00 Introduction

01:02 What are the Key Churn Reasons?

03:35 What are the KPIs for measuring churn?

03:47 Who should be responsible for churn?

05:50 How do you analyze churn?

06:40 Do strategies change with different customer segments?

07:33 How do you know that you’re off track while handling churn?

09:42 How soon should you start the renewal process?

12:10 What are the common mistakes in handling churn?

13:03 Tips/hacks for CSMs to manage churn effectively.

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