Many organizations usually put more focus on customer acquisition forgetting about the churn of already existing clients that normally concentrate on the free trials and once it is over they cancel their subscription. In order for a company to survive the competitive world of business they have to ensure that they can create a balance between getting new customers and also keeping the already existing ones satisfied. In this talk, we are going to discuss about a couple of ways that a company is able to maintain a low OTT churn rate that will keep the existing customers satisfied and glued to the company. One of the ways to go about this is by putting the customer’s needs as a priority by ensuring that you set reasonable subscription fees that will enable them to pay subscriptions for a long time. A free trial is one of the ways that organizations try to attract customers to their business but without the relevant content that the customer may be looking for you will find that you still have to deal with a high OTT churn rate since many of them will cancel after the free trial.
For you to be able to keep your users glued to your company, you will have to keep your content fresh so that they may not be bored and will be able to get what they are looking for. This is relevant for any business because it will keep their customers wanting to know more about what they have to offer and this will make them want to log in at all times. Involuntary churn is one of the things that organizations should ensure that they prevent or reduce since they are normally brought about by programmatic cancellations as a result of system issues that can be avoided. Make sure that the customers that have stalled or have become inactive are able to be awakened so that they can renew their subscription and continue using your services. You can visit www.wicketlabs.com for the best data analytics services or continue reading more info.
It is necessary for organizations to offer personalized recommendations and not use the assumption that one-size-fits-all since customers are different and in order to meet individual needs you will have to customize your services. Customers usually cancel subscriptions for one reason or another and it is essential to get back the recently cancelled subscribers to your services since this will be much cheaper than acquiring new customers. In conclusion, it is important for any company to ensure that they maintain a low OTT churn rate for them to keep their existing customers happy and maintain good business. In this talk, we have discussed some of the relevant ways that can assist an organization to maintain a low OTT churn rate and keep their existing customers satisfied. You can read more on this here: https://www.huffingtonpost.co.uk/brian-suh/big-data-heroes-hiring-an_b_6152828.html.