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Churn rate is the percentage of customers who cancel or stop renewing a subscription in a given time frame.
To calculate the churn rate of your subscription business, you need to analyze the number of customers you acquire versus those that have moved on over a set period
To calculate the churn rate of your subscription business, you need to analyze the number of customers you acquire versus those that have moved on over a set period
Small-to-mid-sized firms typically strive for a churn rate of 3-7% every month, while larger businesses require rates closer to 1%.
Understanding the reasons for higher churn rates is important for creating strategies that strengthen customer relationships
Equipping customers with knowledge and resources necessary for success can minimize churn rates.
Recognizing the signs that a customer is preparing to leave and intervening with resources and support before it's too late can help retain customers.