Before my career in marketing, “churn” was just a way to make butter. It was fun to say, rolled off the tongue real nice.
Then I got an office job and learned the truth: churn is your worst nightmare. It lingers in the back of every marketer’s head, waiting for the right time to upend everything you’ve worked for. Some terrifying examples:
“This feature doesn’t work.”
“I never received an update on my contract.”
“Really, I just forgot we even signed up for your service.”
OH NO. IT’S CHURN.
The Churn, It Burns
A recent survey showed that 70 percent of marketers believe keeping clients is easier than finding new ones. Yet, the vast majority of them are not actively marketing to their current customer base. The mantra is “widen the funnel,” but what about all those that have made it through to the end? What is the value of getting 500 new clients when only 50 are going to stick around for another renewal?
instead, what you could do is turn your efforts towards those who have already invested in your business by retaining and upselling. The trend today is personalization; both providing curated content and putting a happy human face in front of your big bold logo.