Why do your customers really leave? Churn is a challenge across the industry, and the key to regularly conduct customer churn analysis. By keeping your finger on the pulse, your business can learn and adapt much faster – driving customer and revenue growth.
When I talk to potential clients, I’m often told that they would love to do customer churn analysis but they just don’t have the time or resources. Doing the analysis manually is a slow and painful process. So the work and the business benefits get put off until tomorrow.
By relying on pre-determined tick box responses, businesses trade insight for data. Multi-choice answers are much easier to analyse, but they lack context. It’s the unstructured text data that reveal the ‘why’ behind their decision. This is crucial because you can’t improve customer churn rates if you don’t know why customers are really leaving.