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How do you proactively reduce Churn with Marketing in your company?
Context: I have built an AI-Powered SaaS tool to predict users at risk of Churning and I was looking to understand your thought process when you know a user is a risk of Churning.
There's 2 different ways Marketing can help. There's 1 for pre-sale and 1 for post-sale.
Pre-sale - Ensure that you're marketing to the right people and ensure that the story your department is telling is going to resonate with your product. You can sell a story but in terms of churn you can't renew on one. My thoughts here: http://www.buildcs.com/you-can-sell-a-story-but-not-renew-one/
Post-sale- This requires more work. The reason I say this is because you have to go look at your historical churn data. Look at the actions that your churn customers have taken (or not taken) and see if you can find a common theme. Is it that if a user doesn't log in 3 times in the first 14 days they're 40% more likely to churn? If that's the case then you need to make a short drip campaign to ensure that you email or re-engage in app depending on if these actions haven't been taken.
Likewise, what are your highest paying, most successful customers been doing? Do they have a certain amount of log ins or visited a certain amount of knowledge base articles? You need to do both of these analyses to figure out which marketing campaigns your team needs to spin up. It's easier to ensure engagement earlier in the contract cycle than once they've hit all the red flags for churn.
Also, do you have different types of users? How are those signified? More than likely a decision maker will not be logging in with the same regularity as your power users. So have you done the analysis of if there is a difference in terms of these users' actions? If not, that's another aspect you'll have to take into account in order to ensure that the right users get placed into the right drip campaigns from Marketing.
Churn is a function of three things:
1. If the user is actually able to effectively adapt your product.
2. If the user was the correct audience for your product in the first place.
Both of those can be largely measured by how well they are using the product, the overall engagement.
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