No matter what business you are in, there is one thing businesses have in common, that’s customers. Customers must have a positive experience in order for you to be successful. UserIQ can help you improve your customer success and Customer Churn.
UserIQ was born in 2014 due to the idea that customers’ experiences with the products and services they use should be so good, they have no reason to look elsewhere. From a user’s perspective, that means having interactions that anticipate and exceed their needs each and every time. As businesses know, that’s no easy task. UserIQ was voted one of Atlanta’s Best Places to Work and awarded Startup Atlanta’s Best B2B Startup, among other great accolades in 2017.
In the business world, Churn represents the number of customers who have unsubscribed from your newsletter. Monitoring customer health is critical to fighting churn. You can’t improve what you don’t know, and you surely want to be in the know about your churn rate. Even a small change can have a drastic impact on revenue.
Top 5 metrics for predicting churn
While predicting customer churn with accuracy is tough, here are a few metrics believed to be the most useful for the job, namely indicators like:
- Login Activity: Based on the frequency of logins which helps to identify underperforming accounts and determine whether targeted engagement campaigns are needed to boost login frequency.
- Feature Adoption: Based on the number of unique features that each user within an account is using within the product. This lets product managers and customer success teams know if intervention is necessary to help users to discover core features or adopt new ones and can allow product or customer marketers understand key features to promote.
- Sentiment: Tracked through Net Promoter Score (NPS) surveys and helps you gain an understanding of how successful your users feel using your product.
- Technical Support: Calculated by the number of support tickets that are fulfilled and closed by an account or user. Support needs and requests can have a big impact on customer health, particularly due to severity and time to response.
- Financial Health: Measured by a customer’s monthly subscription rate, whether payments are made on time or delayed, and the validity of the account’s credit card. This indicator is often not equally weighted to the others, but knowing that a customer’s credit card is going to expire or that their account is up for renewal lets you be proactive in outreach that could prevent unnecessary churn.
How to Improve Business Performance
UserIQ’s platform enables businesses to exceed their users’ needs, starting at adoption, so they can be successful in every moment. That means combining the intelligence to understand users with experiences that guide them — all in one seamless solution. Our customers effectively scale their on boarding efforts and increase feature usage, and accelerate time-to-value for their customers. Ultimately they drive more revenue throughout the customer journey. This results in faster user adoption and healthier retention and growth rates thanks to a better customer experience.
A guided experience is a great solution. You can download the UserIQ Guided Tour Software and easily create guided tours to prevent your customers from being confused on how to use your services
UserIQ usage analytics is a must-have for any online business owner. It will allow you to perfect your services.
CREATE A SMOOTHER EXPERIENCE
Improve Business Performance by monitoring the most popular and not so popular services. What needs more time and advertising, elimination or improvement . It’s invaluable information that can take your business to the next level.
Keep Customer Success Teams Proactive
Be proactive by helping users develop an immediate understanding of and connect with your product from the start. UserIQ helps you do that in a data-driven, scalable and customizable way.
Having a successful business online is not easy. Make it easier with quality products that give you the insights needed to make your customer service experience better.