Customer Success How To Reduce Churn And Increase Retention

Discover 20 easy to implement strategies to reduce your churn rate in less than 3 months and increase your retention

Last updated 2022-01-10 | 4.5

- You will be able to increase your retention rate
- You will reduce your churn rate
- Increase your annual recurrent revenue

What you'll learn

You will be able to increase your retention rate

You will reduce your churn rate

Increase your annual recurrent revenue

Keep customers happy and loyal to your company

* Requirements

* Understand and explain how to reduce churn in your company and prevent the lost of hundreds of thousands of dollars/
* Be able to increase the retention of your customers
* and the annual recurrent revenue significantly by implementing this techniques

Description

ALMOST 50,000 PEOPLE ENROLLED ON MY COURSES AND OVER 12,000 PROFESSIONALS TRAINED TO BECOME CUSTOMER SUCCESS MANAGERS... THERE MUST BE A REASON FOR THAT!

Would you like to learn the most effective ways to reduce the churn in your company?, Are you planning on becoming a Customer Success Manager? If so, this is the course for you.

Here I will walk you through step by step the best possible techniques to reduce the churn rate of your company in just a few months.

Looking for a $70,000 job? Want to become a Customer Success Manager?

Did you know that according to Payscale the average salary for a Customer Success Manager is around $70,000 a year? What is most interesting, is that this is a new industry, and there is no college education or official certificate that you can get. So as long as you have the right knowledge, skills and attitude you can become a customer success manager.

In this course on how to reduce churn and increase retention, you will discover the techniques that will allow you to do an extraordinary job as a customer success manager, and you will be ready to talk about these strategies when you get asked in a job interview “how would you reduce the churn in our company?”

Already an experienced Customer Success Manager?

If you are already working as a customer success manager, and you are searching for new ways to tackle your churn problem. Then, even though this course might be too basic for you, ask yourself, if thanks to the information here, you get just one single idea, that allows you to retain one extra customer a year, would that be worth more than the investment of this online course on how to reduce churn?

Chances are that the answer is, YES IT IS WORTH IT! Unless your customers pay $10 a year, in which case, saving one customer won’t do much.

Now, the reality is that to reduce churn, you need to be always searching for new ways to increase your retention rate, and improve your customer success manager skills.

The investment in this course

Either if you are trying to become a customer success manager, you just started as one, or you are an experienced CSM, the ideas that you can take from this course are just too valuable, they are worth much more than the few dollars of investment to enroll in this course.

For the price of less than having lunch for two in a cheap fast food restaurant, you can get new ideas and skills that can have a great impact on you landing one of the best-paid jobs in the tech industry, or that can boost your career as a customer success manager and help you improve your actual churn rate and retention rate.

Welcome to the online course Customer Success: How To Reduce Your Churn Rate And Increase Your Retention Rate.

I will see you inside!

Who this course is for:

This is a begginer - intermediate level course which requires the student to have a working understanding of what customer success is, churn, retention, etc., in order to get the most our of this course. It is highly recommended for you to previously take and completed the "Customer Success Manager 101: Foundations to your CSM career" course, or to already have a basic knowledge about Customer Success Management
Anyone who is looking for new ways to reduce churn in ther company and increase retention
Entrepreneurs, VPs of Sales, or anyone responsible of sales, that is looking for ways to increase revenue and/or profits in the company
Professionals trying to retain their customers for longer periods of time and reduce their loss of clients

Course content

4 sections • 44 lectures

Introduction 6 lectures

About the author of How to Reduce Churn - Customer Success Manager Strategies Preview 01:24

Find out who is the author of this customer success course, on how to reduce churn and increase your retention. Learn how I discovered what customer success is.

Introduce yourself

OPTIONAL and not for haters: Engaging with your community is one of the keys to great customer success... so let's engage!! let's get to know each other

Tips to follow this customer success course on How to Reduce Churn Preview 03:21

Discover the best way to get the most out of this customer success online course

What is churn and why do you need to care so much about it Preview 03:43

Understanding what is churn and why is so important is the first step to reduce it, and to increase your retention rate.

Why is reducing churn so important? Preview 03:01

Churn can kill your company, but if you control it, you can increase the profits significantly.

PRACTICE #1

Time to do some self-analysis

WHAT YOU MUST KNOW ABOUT CHURN 7 lectures

Is your churn rate your fault as a customer success manager? Preview 01:39

Can the churn rate be prevented? is it your obligation to make sure that your customers get what they wanted from your product or service? Is it your fault the churn rate of your company? and if not, who is responsible of prevent it?

Churn and your customer's journey Preview 01:10

What is the customer’s journey? why is it so important, and how understanding it can help you prevent churn?

Focus on what matter must as a customer success manager Preview 01:26

Do you know what matters the most to reduce your churn rate? If you want to increase your retention rate, are you aware of what are the most urgent actions that you need to take?

The cost of getting new customers vs reducing your churn rate Preview 02:15

Have you stopped to think what is more costly, to get new customers or to keep the ones you have? How important is to have a great retention rate for your company?

The cost of losing customers. Churn is an opportunity, not a given Preview 04:55

Churn is an opportunity, not a given. But if you don’t see it as such, you might keep losing customers constantly. And, have you ever stop to consider what is the cost of your churn rate?

Fundamentals of Churn

In this quizz will review some of the fundamental ideas of "churn". It is a very easy test, I just want you to be sure that you can move on to the next section.

PRACTICE #2

Time to look at your company

HOW TO REDUCE CHURN AND INCREASE YOUR RETENTION - THE STRATEGIES THAT YOU NEED 24 lectures

Getting started with strategies on how to reduce churn Preview 01:21

Just me introducing you to the section on the strategies to reduce churn.

Product quality vs great marketing Preview 01:36

Reducing churn is not only about stopping your customers from canceling their accounts, but also about preventing it from happen, since even before they become your customers

Profile your ideal customers to prevent churn Preview 03:03

Profiling your ideal customer is an essential foundation to have a high retention rate. We will review what to do to make it happen.

Attract the right customers to increase your retention Preview 03:38

This might be one of the most important keys to for you company to have a solid retention. And absolutely fundamental for churn prevention.

Set realistic expectation and goals for your new customers, and make them happen Preview 01:56

Here is where the seeds of churn are planted or where you plant the seeds for a long relationship, something very important for a customer success manager.

Deliver excellent onboarding experience and plant the seeds for retention Preview 02:40

This is where its all on you as a customer success manager. Here is where your skills can make a big difference to reduce the churn in your company

Minimize time to first value (TTFV or TFV) to lock them in Preview 02:39

What is time to first value, and what can it do for your company? how can TFV or TTFV help you to maintain your customers happy.

Take them to the Wow moment, and kill any possibilities for churn Preview 03:55

In this lesson we will review the difference from time to first value, and wowing your customers.

Offer the best tutorials about your product or service. Preview 02:34

What is great customer support?

Here we will talk about two different examples and how it can affect your retention rate.

Offer great customer support to lo them know that you got their back Preview 05:38

Customer Success is about helping your customer being successful.

So, what else can you do to help them get where they want to be? In this lesson we will talk about what kind of content you can create as a customer success manager.

Create content to help them be successful so they can afford your SaaS / product Preview 04:11

You have to be proactive and engage those customers who are at risk of churning.

Identify which customers are at risk of churning and engage with them Preview 01:38

If you engage and pay attention to what your customers have to say, you will be able to prevent churn with ease

Customer Success Managers listen to their customers and gather information Preview 08:00

In this lesson we will talk about one of the most obvious actions to do as a customer success manager, but nonetheless often forgotten.

Understand where you are failing and how to improve it Preview 03:15

In this lesson we will talk about one of the most obvious actions to do as a customer success manager, but nonetheless often forgotten.

Ask for testimonials Preview 02:36

Make sure they use the features they need - Be THEIR Customer Success Manager Preview 03:10

We will review what you have to do to make sure your customers are using exactly the features they need to use, to achieve the outcomes they expect from your product or service.

When you mess up, fix it fast and do it right Preview 03:22

Take care and responsibility of the mistakes that you or your company might commit. And fix them before they turn into a churning nightmare.

The best way to keep a high retention rate, is with a proactive attitude.

The Pareto Principle - Worth too much money - How much is it worth for you? Preview 04:10

Find out how does the Pareto Principle affects your churning and retention rate and what impact does it have in your job as a customer success manager.

Communication and follow up emails Preview 03:09

Let’s talk about the best ways to keep in touch with your customers and how to do it efficiently.

Keep an eye in your competitors and industry changes Preview 01:34

Sometimes churn, can be out of your control, if you are not ready for what is coming next.

Install a feedback bar to understand your customers Preview 02:02

What are the feedback bars, how can you use them, and which one can you use?

Real time chats, dramatically will reduce your churn and improve your retention Preview 02:10

Why are real time chat so important and what impact can they have in your retention rate?

Churn reduction strategies

Let's find out how much you know about techniques to reduce churn

PRACTICE #3

Let's see how much attention are you paying to what other companies (or yours) are doing to reduce churn.

THE PLAN TO REDUCE CHURN, LESSONS LEARNED AND FAQS 7 lectures

More tips and hacks Preview 00:36

Frequently asked questions about how to reduce churn - customer success Preview 03:01

Here we will review the most common questions when talking about how to reduce churn and increase your retention

What you should take from the customer success course on how to reduce churn Preview 00:52

I will share with you the most valuable ideas of this customer success online course

What to do in the next 30 days to reduce churn in your company Preview 03:25

Finally, in this lesson we will talk about a plan for you to implement and tackle the churn in your company ASAP.

Final Message Preview 01:23

PRACTICE #4: What to implement next?

Let's chose what are you going to do next