Research Can Help Lower Customer Churn Rate
Do you know your customer churn rate?
Customer Retention Surveys vs. Lost Customer (Churn) Research
Customer retention surveys and lost customer research differ by the type of respondent. Customer churn research is traditionally performed with former (lost) customers while customer retention research can be performed with former and/or existing customers. While lost customer research focuses on why they left, customer retention focuses on why they left, why they might be considering leaving and/or what might make them stay. Otherwise, the two surveys focus on the same thing – a better understanding of what can be done to increase satisfaction and your overall retention rate.
Polaris is experienced in creating the complete range of market research surveys, including customized customer retention survey programs, as well as lost customer (customer churn) surveys. Our retention survey analysis will show you the real reasons customers stay, as well as why they leave. We will track the usage of competitive products and services and uncover what customers expect from your products, services and your company. With your help, we can create a “vulnerable customer” profile that can be mapped back to your existing customer database so you can act quickly to save vulnerable customer segments and improve your customer retention, thereby reducing your churn rate.
Contact us to learn more about customer retention survey programs.