Why do your customers churn, and how can you prevent this from happening?

Many companies and organizations focus solely on exploring ways to attract new customers. They tend to forget to attend to the needs and expectations of their present customers, thus increasing the risk of churn considerably. To prevent this risk from happening and retain your valuable customers, MetrixLab offers you EXIT©. It helps you identify key churn drivers of your customers to be used to your benefit.

Outline

EXIT© is a research method in which an online survey and multiple techniques are applied to identify key churn drivers and the segmentation of churners. It not only uncovers the reasons and reasoning behind your churn rate, but also gives you an in-depth view of the various attractive elements offered by your competitors persuading customers to churn.

Methodology and setup

By applying an online survey using the layout of your company, former customers will be invited to participate in our EXIT© research. MetrixLab will approach your customers within a short period of time after they churned to maximize the response rate and assure the quality of the data. Data collection on a continuous basis for a longer period of time further increases the quality.

Obviously, it takes more than one simple question (Why did you leave the company?) to get to the root causes of (former) customer behaviour. Thanks to years of experience, MetrixLab excels in conducting effective root-cause analysis and, in the case of EXIT©, the identification of key churn drivers. We differentiate between factors which are attributable to the company itself and factors which lie outside of its control.

Through open questions and laddering, the EXIT© method approaches the churn drivers from a broad perspective. Furthermore, MetrixLab will link churn rates to customer segments. In this way, your valuable customers can be given extra attention should they belong to a churn risk group. Our reports hold actionable recommendations to retain your customers in the future, thus reducing your churn rates.

Your benefits

With EXIT©, you are able to use your churn to your benefit, as it will give you the insights you need to prevent your customers from leaving you in the future. MetrixLab offers you

• insights into the most important reasons why customers leave your company.
• key churn drivers.
• segmentation of churned customers for specific high-churn risk group actions.
• a detailed view on which competitors attract your customers and why.
• actionable recommendations on how to hold onto your present customers.

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