Acquiring a new customer is about 5 times more costly than retaining one you already have.
How to define a Slipping Away User
A user is slipping away when he or she is not getting value from your product anymore. A way to determine the former condition is to look at who is not performing certain actions which are the core of your product in a certain time period.
If you are not sure which actions to pick just look at who didn't do anything at all in let's say, the last 2 weeks
The time period to monitor should be, as a rule of thumb, 2 or 3 times the average usage frequency. For example: if your average user uses the product 2 times a week, take 2 weeks with no actions as the time frame to consider a user slipping away.
Why Slipping Away Users
Acquiring a new user is 5 times more expensive than retaining one. Hence re-engaging your users with a valuable message is key!
No matter how good your product is, some of them will start to drift away.
Understanding who they are before the actual churn happens could be crucial. You can then reach out to them and try to re-engage them before it's too late.
How to use the Churn Risk template
To get the full list of who is drifting away from your product you only have to:
pick the core events that represent the most important actions users can do in your product (events in the setup picker are ranked from the most recurrent to the least one so if you are not sure which to choose, just pick the top 5 ones)
select the time period
Go to results and re-engage with them before it's too late. If you wish to use your CRM to do so, just download the CSV and upload it there!
When to send a message
At June we’ll message our users after 30 days of inactivity, but you should make a call on what means ‘slipping away’ for your business.
What to say to stop customers from slipping away
Overall your message needs to give a compelling reason to return to the app.
At June we're going meta and we're explaining in an email when our user slip away that June allows them... to re-engage with their slipping away users 😉
Other best practices include to
thank people for being a customer
mentioned the launch of your new features since they last used your product and link to your changelog page
If you can't get them to return, ask them why, so that you can learn from what went wrong
Respond promptly and address any questions or concerns they have.