How to predict churn: 3 practical tips for your business
Retaining customers is one of the main goals of any company. And there's a reason for that. Philip Kotler, the well-known marketing guru, has warned that acquiring a new customer costs 5 to 7 times more than retaining a current one. Therefore, knowing how to predict churn is so important. If you can anticipate […]
Reduce churn: learn how to compress the cancellation rate
All entrepreneurs agree that to succeed, you need customers, right? In an ideal scenario, reducing churn should be one of the goals of organizations, but this metric is not always considered. In many cases, managers even monitor the metrics, but do nothing effective to change them and bring them to the desired level
What is churn rate: how to calculate it and 3 tips to reduce it
Understanding why consumers abandon products or services is essential for businesses, and knowing what churn (cancellation rate) is makes it easier to have these metrics tangible and to give new directions to strategies. Churn is increasingly being used to measure business success and, like many other metrics, it is a valuable tool for business success