Talking to your customers is an important part of market research. But you may learn even more when you talk to people and companies that stopped paying for your product or service.
Now don’t fall into the trap of taking action on everything you hear from those who churned. Just systematically collect the feedback to get a solid sample. Then decide if taking action on their objections and problems makes sense for your product roadmap and marketing strategy.
Since prioritization mainly revolves around two variables—effort and outcome—you’ll probably focus more on problems brought up by your most valuable customer segments.
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You may also find out that a certain percentage of your customers only need to use your product for a month or two every year. You’ll get these insights after collecting such feedback for a while. Then you can account for this natural churn to help you tackle the more important churn.
2. Fix your positioning
Positioning is how your target market should perceive your brand. It’s the intended brand image that consists of associations people have of your brand and products.
Positioning allows you to differentiate from your competitors and, in some cases, even influence how the target market perceives your competitors.
Let’s give the theory a more actionable spin. Your marketing communication should consistently convey what your product does and how a potential customer can benefit from that. For example, here’s a humble brag about our homepage that does the job of providing clear communication well:
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