Reducing customer churn is a constant battle for subscription and SaaS businesses. Since churn has a detrimental impact on your bottom line, managing it, and retaining customers, should be a vital priority for not only your customer success team, but your business more broadly.
Thankfully, there's a wide range of techniques you can employ to reduce churn and boost retention – and advances in churn management software means you have an extra tool in your customer retention arsenal.
In this article, we'll take you through the findings from our latest Tools of Choice report, and explore the capabilities of modern churn management platforms designed to help your business curtail customer losses. From AI-powered predictive analytics tools, to robust segmentation and campaign tools for targeted outreach, today's solutions move beyond basic metrics tracking. Now churn management software can provide actionable insights, automate retention processes, and enable account-based strategies at scale.
Read on to learn how smart integration of data, machine learning, and workflow automation can tame churn. We'll review the top platforms and features to consider based on your budget, resources, and business needs. With the right software, your team can proactively engage customers, uncover churn drivers, and maximize account lifetime value.
What are the best churn management tools and software platforms?
Salesforce’s Einstein Discovery is a feature that uses a combination of analytics and AI to identify the areas susceptible to churn and share the necessary steps to prevent it. Using this platform gives the CSM operating it the capacity to eventually predict churn and stop it from repeating through customer segmentation.
Package prices are the same across both their Sales and Service Cloud and all costs below are based on annual billing
Rather than sit on at-risk customers, Gainsight offers a proactive solution to preventing high customer churn rates: building a solid retention strategy. The features allow CSMs to manage and forecast renewals with all customer data conveniently located in the renewal center. In addition to this, Gainsight offers cockpit access, providing an automated CTA to customers at risk, as well as ensuring all team members have visibility of at-risk customers in the timeline view.
For its CS platform, Gainsight doesn’t offer a pricing plan; you’ll have to get a quote for your business through its website.
Totango gives a practical resolution to reducing churn with its Spark product. Spark allows its users to gain insights into the entire customer journey and reduce churn, drive revenue and conversions. It’s the software that CS leaders use to achieve their own goals, as well as their customers.
Custify’s customer success software offers its users, CSMs, the ability to reduce churn, ensure product adoption, understand their customer lifecycle, and grow revenue. Custify provides an essential tool for combatting churn by proactively helping customers who have teething issues during their onboarding process.
It also allows its users to oversee product adoption and usage, identify renewal and upsell opportunities and automate customer success workflows and tasks.
Custify doesn’t offer a free plan for its users and operates a custom-designed plan for each customer so it’s best to contact them for a quote.
HubSpot’s customer service software helps you conduct cohesive onboarding and the opportunity to deepen your relationships with customers. It includes conversational tools, help desk automation, knowledge base functionality, customer feedback surveys, reporting, and more – all powered by a CRM to give your business one unified view of each customer interaction and proactively campaign against churn.
Vitally’s customer health tool is one you want to have in your remit. It claims to minimize the risk of churn while maximizing the growth of your business (something we could all have a dose of). It provides automated alerts the moment a customer is a risk and tracks a multitude of metrics (even the obscure ones) to gain clear visibility into the customer’s health.
Looker harbors a key feature for its users – the Looker block for retention analysis. This provides a comprehensive analysis of retention levels for each cohort of users. Looker allows users to produce a column visualization to show the total number of users over a specific time period, and then to show churn as a percent with another visualization.
Available only via a custom quote.
Like what you've seen? Well, there's a whole lot more where that came from. Our Tools of Choice 2022 Report covers everything from customer onboarding software and segmentation, all the way to customer feedback and project management tools. Treat yourself to the full, unadulterated report today with a simple download. 👇