To help make your life easier and allow you to focus on the strategies you’ve inevitably put on the back burner, we’ve compiled the ultimate churn-busting resource: The State of Customer Churn.
In this report, we surveyed a broad range of global CS professionals – of all seniority levels – to find out the most beloved retention strategies, taking a granular deep dive into the churn statistics to better understand how SaaS orgs are handling churn cases.
Why we’ve created this report
CSMs have the best job in the world: they get to work with incredible clients to help them not only reach their goals but transform their way of working for the better.
For some CSMs, it can seem like no matter how hard you work, churn’s always around the corner. In fact, churn’s prevalence in the post-sales process has warped it into the ultimate SaaS bogeyman. But it really shouldn’t be. Rather than suffer in silence, we’re here to help.
Through analyzing the responses of hundreds of members of the customer success community, we’ve pooled together their insights to find out four critical things:
- How their onboarding process affects churn
- What strategies they’re using to pre-empt churn
- How they try to win customers back
- How they predict future cases of churn
Here’s the inside scoop
👀 The average monthly churn rate for B2B companies is 6.7%.
🗣️ CSMs who try to understand the causes of churn through methods like customer exit interviews, feedback forms, and phone/video calls have, on average, a 5.1% lower monthly churn rate than those who don’t bother to find out why their customers leave.
⛔ 72.9% of customer success teams don’t have a win-back campaign in place for customers.
💰 50% of survey participants don’t offer their at-risk customers a discount at the point of renewal.
🔥 The top three measures for predicting churn were: utilizing product usage data, noting if they aren’t engaging with the product, and using customer health scores.
And that’s not all the good stuff – there are 70 more pages of pure churn-crushing gold in the State of Customer Churn report.
Why not change the way you tackle churn at your company?