A Case Study of How to Reduce Churn Rate (Snappy Kraken)

LimeProfits x Snappy Kraken:

How to reduce churn rate in half & saving $100,000+ with one onboarding sequence

⚰️Overview: The Number One Killer of SaaS Profitability

About Snappy Kraken:

  • They’re the US’s #1 marketing automation platform in the financial advisor space.
  • They help financial advisors attract great prospects and delight their clients on autopilot.
  • They do this with ready-made content, evergreen marketing funnels and proven lead-gen systems.
  • They’ve also got a really neat “non-compete” model – they give their customers exclusivity based on their location. That goes a long way towards helping them deliver great results.

When the Snappy Kraken team got in touch with me in 2020, things were going pretty well (despite the world falling apart).

Their business was gaining ground in new markets, they were growing, and they were planning for even bigger progress in the future.

But they were too close to their own business to solve one major problem they faced:

How to Reduce Churn Rate

Users were jumping ship quicker than penguins off cliffs set to the tune of Billy Joel’s Piano Man.

How to Reduce Churn Rate - penguins

This churn problem manifested in several different ways:

  1. Their support team was tied up fielding customer inquiries that were already covered in their help docs 😤
  2. People were getting lost during the setup process, leading to them dropping out or needing tons of help to get back on track 😵
  3. Some of their customers just didn’t seem to “get” the power of their platform 🤔

This was frustrating. Not just for the leadership team, but for the employees too.

Having to deal with the same problems every single day is demotivating.

When you know things could be better, but can’t figure out how to get there… it hurts. And that can have a serious long-term impact on your success.

And not only was it bad for morale – it was bad for business too.

No matter what you sell, churn kills your profitability.

Research shows that it’s at least 5x as expensive to win a new customer than to keep an existing one.

Put another way – every extra month a customer spends with your business is another month of 5x reduced acquisition costs.

If you want to grow for the long-term (without letting a ton of revenue slip through your fingers), then you need to keep an eye on your churn rate.

💰 Challenges: Delivering Maximum Value in Minimum Time

My work with Snappy Kraken started off with a couple of initial scoping calls. This let me get a feel for what their situation was and how I could help.

I like to have at least one of these sessions follow a standard framework, and another one to be free-form. This gives us the best of both worlds: flexible enough to allow for genuine insights to emerge but structured enough to make sure it’s a good use of their time.

How to Reduce Churn Rate - whiteboard

After these initial calls, we had a crystal-clear action plan laid out. In full, it would take care of their churn issue WITHOUT hurting the business in other ways.

One of the simplest (note: simplest, not best) ways on how to reduce churn rate is to reduce your price.

The less something costs, the less likely people are to be dissatisfied to churn. And sure – sometimes pricing is an issue. But most of the time, it’s not.

Besides: who’s in business to make less money than they already are??

Luckily, we’ve got other tools in our toolbox for dealing with reducing churn rates.

One great tool is a high-impact onboarding sequence. If you’d like to create one of those for your business, you can check out my free guide here.

💡 Solutions

No matter what tool we use, they all focus on doing one thing:

Putting the right message in front of the right audience at the right time.

This is deeper than just writing an email sequence, putting together an about page, or writing a persuasive sales page for your offer.

Your message matters more than your medium. But it’s not enough to just have great messaging: you need to match that messaging to your market. And you need this to happen at the right time.

If you can put an appropriate message in front of your audience – when the time is right – you’ll dramatically increase your chances of driving whatever action you care about.

  1. More sales.
  2. Better engagement.
  3. Genuine, helpful customer feedback.
  4. High-quality referrals.
  5. Less time spent fielding routine customer support requests.

Whatever you need, keeping these three things in mind will help you.

Forget about product-market fit for a minute. Instead, think about message-market-moment fit.

reducing churn rate - market message moment

Message-Market-Moment Fit

Get this right and you can:

  1. Increase the perceived value of your offer
  2. Better communicate the actual value of your offer
  3. Deliver a great customer experience at critical points in their journey

That third point on the list? It’s a natural result of getting your messaging on point.

There are a few of stages in the user journey that have an outsized impact on churn rates.

  1. During sign-up
  2. Time it takes to the first big win
  3. Their first customer support request

You know everything about your product.

But this knowledge is both a blessing and a curse.

Customer ignorance is real: they’re never going to know your product as well as you do.

That’s why getting these touchpoints right is a critical part of any proper churn reduction plan…

without blinders.

And that’s why great message-market-moment fit is so important.

As for what that looks like in practice…

Here’s a high-level overview of the different services I provided to help them reduce churn across the board:

reducing churn rate - services
  1. Consulting
    Conversations with the team to figure out exactly what needed to be done
  2. Audit
    Conducting a full review of Snappy Kraken’s existing campaigns and materials
  3. Strategy
    Creating our gameplan to attack the issue from multiple angles at once
  4. Email Copywriting
    Writing a brand-new onboarding sequence from scratch
  5. A/B Testing
    Providing multiple variants of headlines and other components for A/B testing

🚀 The Results

Out of respect for the team over at Snappy Kraken, I’m not going to divulge any sensitive information (like the specifics of each email, the exact structure of their sequences, etc).

But here are the results our work created:

Here’s what the team had to say about working with me on this project:

How to Reduce Churn Rate - testimonial

After getting their churn problem handled, the Snappy Kraken team have since expanded their focus to include better in-app messaging.

And the messaging we developed together has been a key driver of their continued success in this area.

👍Like What You’ve Seen Here?

If, like Snappy Kraken, you want to:

  • Figure out how to reduce churn rate in your company
  • Make customer onboarding an effortless experience
  • Recover an additional $50,000 – $100,000+ in extra revenue this year
  • Forge a system to help you scale stress-free
  • Work with an expert SaaS email copywriter & onboarding specialist to help you do so

Then we should talk 😉

A little about me:

 

A Case Study of How to Reduce Churn Rate (Snappy Kraken)

I’m a copywriter with 15 years experience in the game.

I’ve worked with businesses of all sizes (from mom & pop stores to seven-figure brands) to help them reach their market, make more money and attract great customers.

The real secret to succeeding in the long-term is to maintain strong relationships with your customers…

And the best way to do that is by finding your message-market-moment fit.

With the right messaging, you can nurture leads into buyers.

You can turn buyers into long-term clients.

You can transform clients into evangelists.

And most of all – you can feel confident that your business is built on a rock-solid foundation.

Pair that with getting your message in front of the right audience at the right time and you’re on the path to total market domination.

If you’re ready to step up your messaging game, I’m here for you.

Full disclosure: I don’t work with just anyone anymore. I prefer to work with businesses that I can do an excellent job for (my goal is 5-10x ROI).

How to Reduce Churn Rate - oh come on

I don’t do this because I’m picky – I do this because life is too short take people’s money where I will have no impact.

If you reach out to me and I don’t think we’re a good fit to work together, then I’ll tell you so.

That said: I always love to hear from businesses looking to make moves & to help them create action plans for whatever goal they’re pursuing.

So if you think I could be of service, then you can click the button below to book a 27-min call (and it’s okay if it runs longer 😁).

Fill out the questionnaire, let me know what your situation is, and I’ll get right back to you.

If you’re a good fit for the call, I’ll send you a direct access link to book a time that works for you.

Over the course of 27 minutes together, we’ll dive deep into whatever challenge your business is facing.

And by the end of our call, you’ll walk away with a clear-cut action plan you can use to grow the LimeProfits way.

If you’d like, I’ll help you implement that plan for your business. If not, no worries – I’ll wish you all the best & we’ll part as friends.

Sound good?

If so, click the button below to book your call.