How to predict churn: 3 practical tips for your business
Customer retention is one of the main goals of every company. And there's a reason for that. Philip Kotler, the renowned marketing guru, once warned that acquiring a new customer costs 5 to 7 times more than retaining an existing one. That's why knowing how to predict churn is so important. If you can anticipate […]
Reduce churn: learn how to reduce cancellation rates
All entrepreneurs agree that to be successful, you need customers, right? Ideally, reducing churn should be one of organizations' goals, but this metric isn't always remembered. In many cases, managers monitor the metrics but don't do anything effective to change them and achieve […]
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 understanding churn (the cancellation rate) makes it easier to obtain these tangible metrics and shape strategies. Churn is increasingly being used to measure business success and, like many other […]
