Sameer recently presented a pre-conference workshop at the Recurring Revenue Conference which brought together over 700 attendees from around the world to talk about scaling businesses. One of the important factors in building a sustainable B2B or B2C business is managing and reducing churn (when a customer partially or completely falls off their journey with you).
Key takeaways from the session include:
- Factors that influence B2B and B2C are similar but have critical differences. For instance, B2C companies have to consider fashion/trends more deeply than B2B companies.
- Businesses have to think about ‘good customers’ and ‘bad customers.’ Sameer explores a simple framework to help make decisions about how much time and resources you expend on bad customers.
- Stages of the customer journey include moments for businesses to intervene and act to minimize churn. From contract signing to upsells and renewals, there are many small and large tasks to undertake at each stage. The goal is to remove friction, minimize routine tasks, and maximize time spent on solidifying personal relationships.
- Layer automated and manual communication with the customer appropriate to their stage in the customer journey.