Tip: If you aren't allowing customers to cancel their subscriptions in-app you might be missing out on an opportunity to reduce churn. Boost retention by adding a cancelation flow that surveys users and offers them alternatives.
Thread 👇
Thread 👇
Lincoln Murphy of Sixteen Ventures saw an immediate 15% decrease in churn when one of his clients stopped requiring a phone call to cancel, and added an in-app cancelation flow instead.
If you do it right, you'll be able to hold onto some of these customers and improve your product while you're at it. Plus, those who leave will do so on better terms.
In the cancelation flow, start with a survey asking users why they're leaving. This info will help you iterate in a way that improves retention in the long run.
Then offer them an alternative based on the reason they provided. For example, customers who aren't getting enough value out of the product could be bumped up to a tier with more functionality.
But remember, these users are still high-risk for churn, so stay in touch.
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