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Reduce Customer Churn Through Research

Do you know your customer churn rate? Do you know why you have lost customers recently? Do you know what it takes to keep customers?

Polaris retention survey programs help you learn the facts. Marketing research surveys help you understand what is causing customer defection. And with this knowledge, you can take intelligent steps towards improving your current customers' experience and thereby increase your overall customer retention rate.

In the current business environment where acquiring each new customer takes significant investments, customer retention has never been so important to an organization’s health. Recent research has shown that lost customers will simply stop using your product or service without telling you why, and that lost customers are many times more likely than happy customers to share their bad experiences with friends and colleagues. But through customer retention research programs, at least some will share their thinking with you.

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.

Top reasons for low customer retention rates tend to include:

• Service issues (bad or confusing)
• Pricing issues (too expensive or confusing)
• Better offer from competition
• Location changes, or
• Product or service no longer needed.

Contact us to learn more about customer retention survey programs.