- 20 Jun
Upselling Can Help Stem Churn and Increase Retention: Study
Churn. It is a word that strikes fear into the hears of every SaaS and subscription based business leader. And yet, it is a reality of life for them. Some will see year-over-year subscriber increase, only to have customers leave unexpectedly. That is called churn and it can make the difference between success and failure for a tech startup in that space.
So, How Can the Churn Issue Be Solve?
To answer this question, Vendasta conducted a study [original report]. They looked 100,000 SMB client accounts and uncovered some surprising conclusions. The most surprising is that selling those at-risk customers more, can be key to reducing customer churn. As it turned out, upselling customers within the first three months of their contract can help companies stem churn and increase retention by 30 percent.
To see more of the conclusions from this report and to learn the three key strategies for better customer retention read the full article at ChiefMarketer.com