Why it matters as much as winning customers
Keeping a customer usually costs less than winning a new one. And in a business built on recurring contracts, churn eats growth without anyone noticing: you can sign ten customers a year and not grow if you lose nine.
The signs that come first
- A drop in activity. The customer who used to open 20 tickets a month and now opens 3 is not happy: they are solving things some other way.
- Repeated unresolved issues in recent months.
- Low ratings, or no ratings at all.
- A new contact person. The new one does not know you and owes you nothing.
- Usage well below what was contracted. They are paying for something they do not use, and someone will notice at the next spending review.
The usual mistake
Reacting at renewal time. Once the customer has decided to leave, the conversation is about price and it is hard to win. The signs usually show up months earlier.