CHURN RATE

Churn Rate is a key metric for businesses that shows the percentage of customers who stop using your product or service over a specific period.

By calculating your Churn Rate, you can understand how well you're retaining customers and identify areas where you need to improve to keep your customers happy and loyal.

Why is it important to measure?

1. Helps you see how many customers you're losing. If you find that a lot of customers are leaving, you can take action to find out why.
2. Create strategies to keep customers longer. This could include better customer service, loyalty programs, or improvements to your product.
3. Understanding why customers leave helps you improve their experience. Happy customers are more likely to stick around and become ambassadors.
4. A high churn rate can signal that you need to change your business strategy (e.g. tweaking your marketing, improving your product, or offering better support).