Optimise the hell out of your cancellation pages! this doesn't mean optimise as in trying to get people to click your CTA, but instead we want to do everything we can to retain this user.
You should have 5 options for the user to select from when they try to cancel, these can depend based on your industry but the general ones are: too expensive , lack of support, lack of communication, not right for me, need longer free trial, moving to a competitor etc, have an input box and when the user selects there reason for cancellation we will make them a relevant offer.
- Too Expensive: Here's 40% lifetime discount on your subscription
- Lack of Communication: here's a calendar to book a live call with our support agent
- Couldn't Setup the tool: set up live call with customer success manager, moving to a competitor: offer discount, if still not hen which competitor and why.
When implementing this on a previous SaaS company I owned we were able to save cancellation rates by over 45%. That's right, 45% - if you work in SaaS or any form of subscription business, it's hard to grow whilst you are bleeding revenue, so optimise your cancellation pages to resolve customer issues, you'll be amazed by results.
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