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1% improvement in retention increases company valuation by 12%.
It is 5-25x more expensive to acquire a new customer than it is to keep a current one.
Customer Acquisition Cost
12 to 24 months of subscription revenue
Customer Success/Support Cost
only 1.8 to 2.4 months of subscription revenue
Reduction in Churn: The most obvious way that ChurnZero helps companies is through the reduction in customer churn. We find that companies on average see a +4% reduction in churn year-over-year.
Reduction in Human Capital: The ChurnZero system is powerful and takes significant weight o a CSM’s workload. With ChurnZero, CSMs can manage more accounts at a higher level. Increasing the number of accounts that each CSM can manage saves companies hundreds of thousands of dollars in human capital costs.
Increase in Upsells: ChurnZero provides CSMs access to real-time product usage data, so they can immediately identify upsell and cross-sell opportunities. Using this data, reps can have actionable insights to know – who (user), what (product/service), when
(real-time), where (in-app/email), and why (usage patterns) they should be reaching out. Never miss an expansion opportunity again.
Establish Advocates: ChurnZero allows you to understand who your best users are through integrated NPS, real-time usage data, and ChurnScores. Using these indicators, you can easily and accurately target users who would be more than willing to participate in an advocacy program, which will increase the customer lifetime value.
Increase Referrals: The best source for new business is a referral from a satisfied customer. The happier your customers are, the more likely they will be to recommend you to friends and colleagues. Sales opportunities originating from referrals are proven to have the highest conversion rate.
Business Effectiveness: The insights that ChurnZero provides will benefit the whole organization to become more profitable, not just the Customer Success team. For example, finance will gain valuable information around why customers aren’t paying, your sales team will be able to understand what features are making the most impact, and your marketing team will gain better understanding of the ideal customer profile.
Clate Mask, CEO | InfusionSoft