Question

Discuss how the company could reduce the problem of customers terminating their pay-TV service after only three months.

Answer 1

Customer churn is a major headache for the paytv services. Customer churn is a total number of customers who leave their subscription during given time period.

Steps for reducing Customer churning rate:-

1) Find reasons for Churning :- To solve any problem, first of all the reasons are to be found. Therefore, Service Providers should focus on customer reviews and feedback for detecting the causes of churning.

2) By increasing Engagement :- Service providers should engaged with their customers through all mediums like social media , notifications and tell them they are valuable members of your family.

3) target the customer :- No matter how much you try to retain your customer , if targeting the wrong one .So you should make your retention tricks customer specific.

4) Offer incentives :- Service providers should offer incentives like discount , cashback and special offers to those customer who are defect . It is regarded the most effective tactic for reducing churn .

5 ) Personalize services :- Personalize services can improve customer experience and satisfaction. This will increase your retention rate .

6) Actively Monitoring :- Actively monitoring of each customer and their usage and activities gives ability to spot potential churning.

7) Improve your Services :- Service providers should keep improving their services Because if your services are bad, then give any incentives, customer will not stop churning.this will ensure keeping customer in your side.

8) pay attention on complaints :- Service providers should take complaint seriously and act on them . It will prevent churn because unsatisfied customer whose complaint are attended , will becomes more loyal and influence others also.