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Churn: The Silent Leak That’s Draining Your Product Success

  • Customer churn is one of the most important business metrics - the percentage of customers who stop using a product over time.
  • Churn can arise from seemingly small, unnoticed friction which builds up over time and finally results in straying away of customers.
  • Ignoring churn is like chugging ahead with a smoking engine.
  • Churn rate=growth target rate gives an idea of the efforts that must be necessary to maintain growth rate.
  • High churn rates drain revenue and drive up acquisition costs.
  • Churn rate should be divided in three parts to perform deep dive analysis – segmenting churn, identifying patterns and predicting future churn.
  • It is better to prioritize fixes, focus on high-value customers, improve adoption and engagement to bring down churn rate.
  • Customers do not care about buzzwords; they value experience.
  • The focus should be on building a strong Customer Success Organization as the core of the company.
  • A good Customer Success Organization can build real Loyalty.

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