Combatting Customer Churn in Economic Uncertainty

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Prove your value and maintain client retention rates

During periods of economic prosperity, businesses often forget that sales don’t derive solely from innovative products and clever messaging. In the B2B world, purchases depend on a prospect’s cash flows and disposable income. But what happens when there’s a shift in financial landscapes, or when a client’s business survival is threatened?

We’re facing an unprecedented time; small businesses are closing their doors indefinitely, employees who have never before worked from home now are encouraged to self-isolate, and the future remains uncertain. As a business, you may offer valuable products and services that can help people during this time. However, few people or organizations are going to be receptive to sales practices. Now more than ever, you have the opportunity to hone in on your value propositions and focus your efforts towards customer retention.

All successful businesses acknowledge that the sales process is merely half the battle, and that the real value lies in its ability to retain existing clients. Here’s how:

  • Leverage churn prediction modeling techniques to understand precise consumer behaviours.
  • Strategically reposition your messaging and refrain from upselling.
  • Demonstrate your value through account audits and no-cost services.

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