Locking out customers | Loomly's Thibaud Clément

Neel Desai Mar 30 2022

On today's episode of Retention Talk I speak with Thibaud Clément, Co-Founder of Loomly. We discuss triaging customer feedback, term optimization, and locking out customers.

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Show takeaways

Key points discussed in the episode

 

There is a minimal level of churn that at some point we cannot go beyond. Balancing that with the idea of, still, always trying to fight churn, that's where we have to walk this fine line.”                                                                                                

 

                                                                                                                              - Thibaud Clément

Triaging customer feedback

At Loomly they view retention as a tripod. The customer success team looks at data and helps to work with customers, the engineering team builds features and fixes bugs, and the management team works on growth and strategy. As they grow, the entire team is obsessed with scaling the feedback loop to make sure they stay in touch with customers and understand all concerns.

 

Term optimization

Loomly also makes sure to offer an annual subscription both at sign up and once a monthly user has been using the product for a few cycles. By checking customer behavior and how active they are, they can prompt them with the best value.

 

Locking out customers

Locking out a customer can be a last ditch effort to keep them around. By sending dunning emails and communicating the value that will be lost, hopefully you can avoid locking out a customer. But sometimes, it’s the only way to get their attention. Make sure to freeze the account without deleting valuable information in there. That way once you do recover the payment, your user won’t have to reset everything in their account. You don’t want your delinquent churn to turn into an active cancellation.

 

If you’d like more insight into your own retention—or even a free retention audit where we can benchmark you with actual relevant data—reach out to me at neel@profitwell.com.

 


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By Neel Desai

Product Lead, ProfitWell

Subscription market insights you won't find anywhere else.