It's event season at Eigenworks, as we prepare for our first of two big events in May (and a third quickly approaching in June). May 9-11 marks the massive Customer Success Conference Pulse 2017, hosted by Gainsight. We've attended for the last several years and, as always, we can't wait!
This year, our CEO and Founder Alan Armstrong will give a talk on the three types of churn he has identified over the course of nearly 10 years conducting thousands of buyer interviews for B2B software vendors. In his talk, Data + Dialogue: Avoid 3 Types of Churn using Buyer as HeroTM Insights, Alan speaks to the importance of supplementing your customer success data with meaningful buyer dialogue to give context to churn, and help you avoid it.
Here's a sneak peek:
Green Churn occurs when your customer is showing consistently positive "health scores" only to suddenly churn. Their problems were unknown, which is why they seemed to be healthy all along.
Failure to Thrive occurs when your customer has been unable to achieve positive health scores due to a lack of alignment between their needs and their onboarding and implementation. Their problems were known to you, but seemingly went unaddressed or couldn't be addressed.
Sudden Change occurs when your customer goes right from green to red, almost in an instant. Their problems were impending; they didn't have them when you last checked, but something came up.
Why do these types of churn occur? There are several reasons, and they're not always related to product. Product issues are usually obvious. Other issues are not. Either way, dialogue helps you gather the insights you need to answer the question, and avoid similar instances of churn in the future.
If you're going to Pulse this year, be sure to attend Alan's talk to learn more. We'd love to see you there!
And if not, that's ok too. Reach out to learn more!