How to Reduce Churn: Closed Loop Feedback
To conclude our series of posts on how to reduce churn, we round out our last post on the third pillar: Closed Loop Feedback. We’ve already discussed the first two pillars – real-time insights and frontline transformation, if you missed those posts, check those out here and here!
Including a service recovery action as part of a customer experience program creates an opportunity to save customers who have been identified as at-risk of leaving
What is a Service Recovery Program?
This type of program reduces churn by resolving problems and making customers feel valued. When contacting customers remember the following:
- Not all outstanding customer problems can be corrected with a call back
- To determine what circumstances a customer should receive a call back consider these steps:
1. Analyze a large sample of customer comments
2. Determine which keywords or themes are associated with negative comments
3. Filter keywords or themes based on which are resolvable with a call back and which are not
4. Create alerting triggers based on resolvable keywords or themes
Want to learn more? Read about how one of our clients is savings millions a year by calling customers back here.