Has a customer ever punched you in the face?
No?
Has it ever felt like that?
Every time I’ve had a customer sign-up, stick around for a few months, and cancel (aka churn) it sure feels that way.
It doesn’t matter how long I’ve been building businesses, nothing frustrates me more than having a customer that I spent a ton of time, energy and money attracting, leave because we missed the mark.
What’s different about my approach is that I take 110% accountability for customers churning.
Meaning, I want to know EXACTLY why it happened… and see how I can fix it. Or at the very least, make sure it’s the first and only time someone ever leaves for that reason.
Too many founders just chalk it up as a numbers thing… pegging it as normal.
I don’t agree, and I’ve outlined the 5 steps I take to ensure I reduce my churn as fast as possible while scaling up my revenue.
That’s what I cover in this week’s video.
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What I want to share with you in this video are the 5 areas that I think most founders completely ignore:
- They don’t measure their metrics
- They don’t learn from their cancellation process
- The product is too easy to switch off of
- They don’t automate dunning management
- No one is paying attention to customers who show signs of cancelling
At the end of the day, the holy grail for any SaaS startup is net negative churn… a point where your expansion revenue grows faster than your churned MRR.
The fastest way to get there is to bust the churn you have, and grow your existing accounts by 20-30% per year.
Once you’ve hit this nirvana, the sky’s the limit.
Keep up the good fight!
