In this episode of SaaS Boss show I share a quick idea how you can keep customers who are affected by Coronavirus and want to cancel their subscription and instead keep them as your customers.
Cancelling Subscriptions These days – solo
Natalie: [00:00:00] hi everyone. I wanted to quickly Pop up here and share with you a quick idea about improving your churn rate during this unprecedented times when many customers may reach out to you and ask to cancel their subscription due to current events and that they’re not using tool and so on.
And I’ve seen a few recommendations in various communities where people talk about discounting their rates instead of canceling. I really believe that if someone reaching out to you and asks to cancel their subscription due to coronavirus or mentioned in current state of economy. I would really recommend instead of discounting, just given them the max couple of months for free, qwhich does a few different things.
Number one is it keeps the customer because it’s going to be much harder for you to go back to them in two and three months and get them to resubscribe to your tool. It also shows that you are human and you are trying to help. it saves you time so that you don’t need to go back two and three or four months down the road and get them to subscribe back to your tool and in two months, hopefully they’re going to stay and keep using your tool. So there are many benefits to that.
I really encourage you, if someone, comes to you and asks to cancel the subscription. Instead of canceling or discounting by like 50%, I would really recommend instead of discounting, just given them the max couple of months for free, it’s going to definitely show your human side.
Hope it helps.
If you have any other suggestions or how you’ve handled this, please reach out to me and I’ll share your comment with the audience as well.