An indicator of customer churn, – the reverse side of retention. The fewer customers leave you, the more remain, and with them the profit they bring to your business. There is not a single company in the world that has not lost its customers. And the best way to deal with this problem is to understand why they are leaving you. Why Churn rate is dangerous for business It is important to understand that even a seemingly insignificant outflow of buyers in the future turns into a serious negative indicator, a real threatening figure. For example, let’s take a hypothetical business with a thousand paying customers and an average check of 10 thousand rubles.
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With a customer churn in 6 months, revenue will fall by more than 22%. Even for a small business, this is a serious loss. The Danger of Churn Rate for Business How to calculate churn Ecuador Mobile Number List rate The decline in revenue caused by customer churn is a key indicator of the “health” of a business, and to keep track of the situation in dynamics, minimizing losses, marketers use the Churn rate or customer churn rate. To calculate it, you need to divide the number of customers who left for a certain period by their total number at the beginning of this period.
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Churn Rate Formula The concept of “gone customer” is interpreted differently in different areas of business and, as Harvey McKay (New York Times bestselling author) said: “no company has an eternal monopoly on the client.” Therefore, a lost customer can be Business Lead considered a buyer who has stopped any interaction with your company: for example, he stopped shopping in an online store or using the services of a company. We will tell you more about this later. When analyzing the Churn rate, it is important to understand the churn structure.