Customer churn analysis offers insights into the factors driving your churn rate and highlights opportunities for improvement. By identifying the points in the customer journey where churn occurs, you can address weak spots to retain more customers.
Customer churn analysis checklist
The following customer churn analysis checklist outlines what factors will be most valuable to track and analyze during each stage of the customer journey.
- Was the onboarding quick, and did it efficiently satisfy the customers' needs?
- Did the customer progress through each step of the onboarding process with ease?
- Do they have any negative feedback, and if so, has it been addressed and documented?
- Is the customer using their product frequently and consistently?
- Have support tickets and any complaints been resolved in a timely manner?
- Has the customer reached key milestones and positive ROI?
- Do your customers feel supported and valued by your enterprise?
- Have they expressed interest in adding new features or services before renewal?
- Do they feel supported by your team or pressured to spend more money?
- Is there a system in place for tracking recurring issues and using that data to inform product updates, future iterations, and procedural improvements?
- Is there a system in place that allows your team to anticipate escalations before they occur and take proactive action to address them?
- How effectively do your teams use negative feedback to inform updates or improvements to products and/or services?
- What is your enterprise’s customer retention rate, and is it increasing or decreasing over time?
Customer churn analysis is a critical component of any enterprise’s customer success strategy. It is also a complex and involved process that must be adapted and updated to fit your customers’ changing needs.
A customer churn analysis solution should:
- Identify at-risk customers
- Use real-time data
- Include built-in best practices
- Make it easy to update and create new processes
- Be able to handle large volumes of data across different systems
- Allow for collaboration across teams
- Track your team’s impact
With a customer success platform, you can minimize churn and increase customer-centric growth.