Lets be honest no one wants to lose customers. In fact, high customer churn rates are the absolute worst nightmare of just about every webshop owner. Interestingly enough, the reason these churn rates get so high in the first place is because these same webshop owners are unable to locate or identify the source of the problem. This is a huge mistake to be making especially when we look at the figures. According to the book Marketing Metrics, the probability of selling to a new prospect falls anywhere between 5 and 20% whereas the probability of selling to an existing customer is somewhere between 60 and 70%! So what can your company do to get back on track and start reducing customer churn?
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