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CSM Practice - The Customer Success Podcast
Tips and Tricks for Reducing Customer Churn
Sep 27, 2024
Varda Tirosh, Chief Customer Officer at Optimove and a leading figure in customer success methodologies, shares her innovative strategies for reducing churn. She discusses the importance of deep customer engagement and data in retention efforts. Varda emphasizes a multifaceted approach that combines positive customer experiences with product quality. She also highlights the necessity of transparency and communication in navigating client relationships, and the value of external data tools to enhance customer insights.
30:23
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Quick takeaways
- Implementing a structured churn management framework, which categorizes churn into avoidable and unavoidable, enhances analysis and drives retention strategies.
- A holistic, company-wide commitment to customer needs, including improved onboarding and alignment with sales, is essential for effective churn reduction.
Deep dives
Understanding and Classifying Churn
Churn is a complex issue faced by all businesses, and a structured approach is vital for effective management. An effective framework involves categorizing churn into avoidable versus unavoidable and expected versus unexpected. This classification enables a deeper analysis of churn reasons, helping identify patterns such as product misalignment or lack of engagement from customers. By organizing churn insights into meaningful buckets, companies can foster better communication regarding churn, establish actionable strategies, and improve retention rates.
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