Acquiring a new customer is a time for celebration. But in today’s environment, it’s especially rewarding. All too often, however, deals start to unravel once the baton is passed to onboarding. This is when the gap between customer expectations and their actual experience begins to bubble to the surface. Unclear customer expectations are typically caused [...]
When software companies are seeking efficient ways to manage customer churn, some choose to monitor the health of their book of business by reviewing a few efficiency and productivity based metrics. These often help managers and leaders plan workload, identify top performers, strategically identify upsell opportunities, and get alerted to potential churn risks. Tracking metrics [...]
More than likely, saving at-risk business and reducing the chances of customer churn is a key area of focus for your business today. This is leading executives to ask more questions around churn prevention such as: What subtle, or not so subtle, signs are we missing that customers aren’t happy with our products, services, or [...]
Prior to founding Satrix Solutions, I was responsible for the professional services division of a prominent financial technology firm that served nearly 1,000 customers. During my tenure, I had hoped to concentrate primarily on developing our people, growing the business, creating value for our customers, and improving the customer experience. Instead, I found myself spending [...]
Sucker-punched again? Unfortunately, it happens all too frequently. From seemingly out of nowhere, that cold sting of an unexpected cancellation by a highly valued customer has left you embarrassed and asking yourself, “How did I not see this coming? I thought we had a good relationship.” As you scramble to identify the missed signs, you [...]
The stress of dealing with unhappy customers - it’s something we all experience at some point. Some of the implications of this problem are obvious. Maybe you or members of your team are the recipient of direct (and possibly not so pleasant) feedback. Often times, financial resources are allocated to try to address the situation. [...]
There are several phrases commonly used to define customer churn: defection, attrition, termination. Regardless of what losing a customer is called in your company, it can be one of the most frustrating experiences for senior leaders to deal with. Customer churn can weigh on office morale, serve as an indicator of product or service issues, [...]
One of my favorite quotes comes from Malcolm S. Forbes, who said, "Failure is success if we learn from it." The central theme of that message drives much of the work we do here at Satrix Solutions. The formal customer feedback programs we implement for our clients reveal considerable insight into customer sentiment and preferences. [...]
