March 22, 2023
How to manage churn in turbulent times
Key takeaways
If you’re currently looking for strategies to prevent and reduce customer churn - you’re not alone. With the gloomy outlook for the world economy, companies are preparing for the effects of an economic downturn. Hence increased focus on churn and how to handle it. But how do you decrease the risk of churn? How do you show ROI daily to your customers? And how are you working on expansion during renewals?
In this episode, our host Anika Zubair chats with Jay Nathan, EVP and CCO at Higher Logic about how to manage churn in turbulent times.
Jay Nathan is a business executive best known as co-founder of the popular Gain Grow Retain customer success leadership community. He is EVP and Chief Customer Officer at Higher Logic, an online community software platform that helps companies engage, retain, and grow their customers.
Jay has over 20 years of experience in the software industry and has held leadership roles at prominent technology companies such as Blackbaud and PeopleMatter. He is a recognized thought leader in customer success and has written and spoken extensively on the topic.
Just before this podcast recording, the Silicon Valley Bank (SVB) collapsed. The tech world is definitely looking a little different these days and supporting your customers is more important than ever.
“Every company right now should be focusing as much as they can on value. Not only confirming that you're providing value but sharing that in a quantitative way.”
Jay and his team continues to provide great support, implementation and onboarding services to their customers as well as improving their renewal strategy.
“From a renewal standpoint, we are working on a 'how do we win together' kind of approach. For example, how do we present our customers with renewal options that give them some control over the pricing and payment terms without breaking our own bank at the same time?”
Listen now to the full conversation with Jay and Anika to learn more about how to manage churn in turbulent times.
