Are You Creating Customer Chaos or Success? Find Out Now.

Are You Creating Customer Chaos or Success? Find Out Now.

When I began my consulting practice, I noticed an interesting trend.

Some of the organizations produced chaos in their customer experience.

These organizations would often have impressive strategies, marketing initiatives and supply chains that would reel the customer in. But once the solution had been purchased, the customer seemed to enter a different realm entirely.

Are Your Customers Advocates or Damaging Detractors?

Are Your Customers Advocates or Damaging Detractors?

This article discusses how you can increase your Customer Success, Revenue Growth, and Enterprise Value. It relates to previous articles such as, “The Hidden Cost of Churn to Enterprise Value”“How Much Enterprise Value Did You Lose to Churn in the Last Year?” and “It Hurts! Why Your Customers Kiss You Goodbye”.

Are you ready to join the hundreds of organizations who have achieved Customer Success excellence? Try the DGE Customer Success Assessment now.

Key Words: Customer Success; organizational growth; Enterprise value; consulting; churn; customer acquisition; customer retention; revenue; Dunn Growth Experts; customers; revenue growth; SaaS; technology; cloud; managed services; subscription; renewal; expand; expansion; onboarding; adoption; utilization; advocacy; customer journey; customer experience; growth; retention;

It Hurts! Why Customers Kiss You Goodbye

It Hurts! Why Customers Kiss You Goodbye

This article is part of series on how you can kill churn and increase Enterprise Value and is related to our other posts, “The Hidden Cost of Churn to Enterprise Value” and “How Much Enterprise Value Did You Lose to Churn in the Last Year?”. In this this article, we’ll talk about why customers leave and what you can do about it!

Why do customers leave?

Countless studies opine on why churn occurs with at least 58 different reasons identified for why customers leave. “There Are Only Two Reasons Customers Churn”, “The Big 3 of Customer Churn”, “Eight Signals to Watch”, “The Ten Reasons Customers Churn”. It seems like everyone has useful insights, but none of them can agree.

When I reviewed the research in detail, I uncovered some important findings.

  • 86% of Churn is Controllable and Avoidable. This is customer churn that was within the organization’s sphere of influence and could have been mitigated. 

  • 12% of Churn is Uncontrollable and Unavoidable. This occurs when a provider leaves the market or the customer leaves due to a company issue.

  • 2% of Churn is Unintentional. This is when a customer cancellation occurs unintentionally, most frequently due to automatic billing issues. 

What does this mean?

The Good News is 86% of Customer Churn is Within Your Control.  And, more than half of all churn has one root cause and multiple contributing factors.

The #1 Root Cause of Churn on which You MUST focus is: Customer Value and Return on Investment.

The #1 Root Cause of Churn on which You MUST focus is: Customer Value and Return on Investment. This is when customers not only achieve the value and return for which they purchased the solution, but they confirm they have. 

The lack of achieved value and return is why 46% of all churn occurs. 

The lack of achieved value and return is why 46% of all churn occurs. Contributing factors are lack of adoption and utilization; poor implementation and onboarding; poor customer service and support; and, lack of relationship, trust, and chemistry, and more.

Focus like a laser on ensuring your customers achieve value to expand your business and grow your Enterprise Value.  Unless you get this one thing right, nothing else really matters.

In my next article, I’ll share the strategies you can immediately implement to increase Customer Value / Return on Investment.

In the meantime, it’s imperative that you stop your customers from kissing you goodbye and start growing your Enterprise Value! Set up a 30-minute meeting or check out our Customer Success Assessment to get started today! What do you have to lose?

Key Words:

Enterprise value; consulting; churn; customer acquisition; customer retention; revenue; Dunn Growth Experts; customers; revenue growth; SaaS; technology; cloud; managed services; subscription; renewal; expand; expansion; onboarding; adoption; utilization; advocacy; customer journey; customer experience; growth; retention; infographic; growth strategy; business expansion; grow your business; company growth; small business growth; enterprise growth; business growth plan; stages of business growth

How Churn Takes a Bite Out of You!

How Churn Takes a Bite Out of You!

In my previous article, The Hidden Cost of Churn to Enterprise Value, I revealed the millions of dollars lost to churn every year.  In this article, I share how you can calculate the cost of churn to your Enterprise Value.

Everytime a customer churns, your organization takes a hit to its Enterprise Value. You'll have to replace the losses with newly acquired customers at a significantly higher cost, not only in marketing and acquisition efforts, but also by having to overcome the damages made to your company's reputation as well. 

Key Words:

Enterprise value; consulting; churn; customer acquisition; customer retention; revenue; Dunn Growth Experts; customers; revenue growth; SaaS; technology; cloud; managed services; subscription; renewal; expand; expansion; onboarding; adoption; utilization; advocacy; customer journey; customer experience; growth; retention; infographic; growth strategy; business expansion; grow your business; company growth; small business growth; enterprise growth; business growth plan; stages of business growth

The Hidden Cost of Churn to Enterprise Value

The Hidden Cost of Churn to Enterprise Value

After 35 years of studying what makes businesses thrive while others flounder, I’ve learned the keystones of business success and how organizations can maximize their Enterprise Value. One of the most surprising insights I garnered was the exceptional cost of churn, here’s what I’ve discovered.

Enterprise value; consulting; churn; customer acquisition; customer retention; revenue; Dunn Growth Experts; customers; revenue growth; SaaS; technology; cloud; managed services; subscription; renewal; expand; expansion; onboarding; adoption; utilization; advocacy; customer journey; customer experience; growth; retention; infographic; growth strategy; business expansion; grow your business; company growth; small business growth; enterprise growth; business growth plan; stages of business growth

Accelerated Consulting, Accelerated Client Revenue Gains

Accelerated Consulting, Accelerated Client Revenue Gains

Tags:

Enterprise value; consulting; churn; customer acquisition; customer retention; revenue; Dunn Growth Experts; customers; revenue growth; SaaS; technology; cloud; managed services; subscription; renewal; expand; expansion; onboarding; adoption; utilization; advocacy; customer journey; customer experience; growth; retention; infographic; growth strategy; business expansion; grow your business; company growth; small business growth; enterprise growth; business growth plan; stages of business growth