Are you looking forward to a strategy to improve your customer churn rate?
Let me tell you one thing nobody had a perfect strategy to control their churn rate so you are not alone. Almost all online business owners are looking forward to new strategies to develop their customer churn.
So we have a good and easy strategy to control your customer churn rate. But before knowing about the strategy let’s discuss a bit about what is customer churn and why its rate is important?
So in easy words, we can say that the customer churn is the rate of customers that stopped using your organization’s product or service through a certain time frame. You can also calculate churn rate by dividing the number of buyers you lost during that time period — say a quarter — by the number of customers you had at the beginning of that time period.
And by the customer churn strategy, we meant that it is a set of actions a business takes to engage existing customers. Successful strategies use a logical and personalized approach that can change over time.
You know what ? it sounds easy, but it can be very challenging to get customers to stick with your company in a frequently crowded market. A good customer churn strategy looks at how many buyers leave and the underlying causes why.
If you see your turnover rate going up, it could be a sign that something isn’t working well. It could indicate you need to improve your customer service experience approach or how and when you communicate with customers. Improving the Customer churn rate is very important to improve the growth of your business.
So it’s important for you to set up a perfect and easy strategy to engage your current customers and decrease your customer churn.
We have an easy and very efficient strategy that you can use to improve your customer churn rate and grow your business more efficiently.
WhatsApp Chatbot to Improve Customer Churn Rate
Now you can automate WhatsApp messages service to improve your business. Whatsapp chatbot is that growth hacking tool about which we discussed above. By using AI technique we can reduce the customer churn at an extreme level. We can use the WhatsApp automation tool to grow your business. You know what? it can fulfill all the requirements needed to improve customer churn rate.
Make a good first impression
A popular saying in the business world is that you never get a second chance to make a first impression, but companies don’t look to be using that to reduce customer churn. Even after someone signs up for your Messenger or SMS list, there are things they don’t know about your products or brand.
So by using WhatsApp chatbot, we can continuously engage our students personally. To obtain a good first impression, Val Geisler, Founder of Fix My Churn, uses a strategy called “The Dinner Party Approach”. A summary of the strategy from her interview with the company over at Intercom is:
“If you think about onboarding like you’re hosting a dinner party. You don’t instantly shove the main course in front of your guests. Instead, you bring a drink for them, show them around, serve some appetizers, then the main course, which is followed by dessert — and you’re having a great conversation throughout.”
So exactly like this, you have to treat your customers by engaging them within your product and by creating a personalized environment with them and it is very easy with chatbot especially by WhatApp chatbot it’s quite easy to treat them special within their personal space.
If you’re in e-commerce, you can convey a newcomer’s guide that gives a first-time buyer how to use the product they purchased. Over the course of a few days, you can show them creative ways to further use it and discover new value.
Gives more customer satisfaction
Customer retention is a byproduct of customer satisfaction — and auspicious analytics is provided to create a more satisfying experience.
According to Matt DiMarsico, senior vice-president of business development with Xavient Digital – powered by TELUS International.
“When you implement a chatbot or sentiment-analysis tool, you’re able to resolve issues quickly without having any intermediary or hold time. You’re avoiding those first few minutes of the interaction that can be frustrating for customers,”
“By increasing the efficiency of problem resolution using AI, you, in turn, reduce churn.”
Efficiency and problem-solving are the foundation of good customer experience. So these all things are easily possible by using artificial intelligence tools like WhatsApp chatbot.
Get loyalty customer
Loyalty programs are one of the best ways to improve customer lifetime value. Which is why it’s helpful for businesses to install one to reduce churn. With a loyalty program, you can encourage customers to give more money with you in recovery for points, discounts, special offers, cashback, etc.
Through chatbot, you can be sent your customer pre-design templates of different loyalty cards, birthday wishes, and other local marketing templates
At Botsify they have already designed template and also you can create a template of your choice
That’s totally great
One great example of loyalty rewards programs are from Blume, a direct-to-consumer (DTC) company specializing in self-care products for women.
Generate more Revenue
Chatbots are conversational computer programs. They are essentially an automatic messaging system. Chatbots are very engaging, and the customer loves them for their 24/7 availability and fast replies. The profit potential chatbots offer is especially improved by the fact that their demand in the business is skyrocketing.
Here’s what one of our customers was able to achieve for Action Realty with our chatbot-driven real estate leads strategy:
Woah that’s great!
There are many organizations that are employing chatbots to grow their businesses and generate leads in different fields. We have so many examples of revenue generation with chatbots. You can further read this case study of how a real estate leads generated $500k by using a chatbot.
Chat with your customers more often
Adding more to great first customer experience, you need to talk more with your prospects and customers. Perhaps some aren’t thinking about a tie with your company, or they don’t sense that you care enough. Engaging constantly with them can assist you to build affinity and loyalty, and reduce your churn rate.
So in this, there is a chatbot that can help you to talk with them 24/7 and make them feel important, and WhatsApp chatbot provides them the personal attention and also gives them their personalized space where a customer feels free to chat and convey his or her thoughts about the product.
Mention, a social listening tool, fought with churn as their customer-base grew over 200,000 users. They were previously successful with email automation for free trial users, so they decided to use the same approach for paid users.
By educating people on how to be successful with your product, you create buyers that stick around. The enhanced communication was only successful because Naming continued to send helpful resources to customers. Customers won’t always understand your products or services right away, so show them with valuable content and give them a reason to stay.
So these are some of the benefits you can grab by a WhatsApp chatbot and improve your customer churn rate at an extreme level by making them engaged within your products
Managing customer churn rate is critical to the success of your business. There are many ways to decrease this turnover, and many, if not all of them, revolve around talking with your customers. A small improvement in your customer churn strategy can make a significant impact on your long-term growth.
What is your thought about WhatsApp chatbot’s role in Improving customer churn rate? Let us know in the comment section below.
And if you want to reduce your churn with Botsify chatbot try it free for now.
Aiman joined the team as a Senior Content Writing Executive and adds technical content to our blog section. She did her Bachelors in Computer science from Federal Urdu University. She holds expertise in multiple departments like content writing, Content marketing, and social networking. She also handles our website content and design help tutorials also…