Keeping customers is the long game every business needs to play—and win. Starting new relationships that end fast is costly, time-consuming, and terrible for your business health. Maintaining relationships, however, is of great value.
So, how do you keep those relationships going? The answer is churn management.
Now, what is churn management, exactly? It’s all about identifying potential churn-risk customers and fixing your relationship's flaws. The good news is that this strategy can work for any relationship, including your ambassadors.
What is Churn Management?
Churn management is the final step after lead gen and customer relationship management. Think of your churn strategy as your backup method. It identifies at-risk customers, uncovers why they intend to leave, and then uses proactive strategies to keep them instead of saying goodbye.
Of course, you can use it to manage other relationships, too—like your ambassadors.
Ambassadors promote your brand when you build an authentic community experience, which is a mighty important ingredient to business growth in today's world. However, if these advocates don’t feel supported, valued, or like the relationship works for them, they’ll be out the door.
Not only that, but all those affiliate sales and all that social engagement they were bringing in will vanish. The good news is that boosting your churn management can help you effectively improve your ambassador program.
The Importance of Churn Management
In the past ten years, the subscription economy has grown by an incredible 435% and is expected to be worth $1.5tn USD by 2025. However, despite these big numbers, many businesses are losing out on potential revenue. You can easily boost revenue by investing in customer satisfaction over customer acquisition. The same principles apply to your ambassadors. Managing healthy relationships with a select few can help bring your brand reputation and generate more sales while driving down acquisition costs.
How to Use Churn Management to Improve Your Ambassador Program
Ambassadors play a huge role in customer retention, especially in more niche markets or for brands testing new waters. For example, if you’ve recently switched from B2B to D2C, chances are you know how to generate B2B leads. Many of these tactics are similar for D2C brands, with two of the biggest recommendations being to use customer referrals and target high-value leads on LinkedIn.
Where do these two recommendations intersect? Brand ambassadors.
A great ambassador can help increase customer loyalty while lowering customer acquisition cost, but they can also come and go. That’s why expanding your churn management software strategy to include your ambassadors is so important. You want to keep the high performers happy, so you need to understand if and why they might leave.
Ready to get started? Here are our top tips to sidestep common churn patterns and build a healthy brand ambassador program.
Separate Customers from Ambassadors
