Retention, a lot like acquisition, can feel a bit overwhelming at first. And it can be hard to know exactly where to start. I feel you. So let’s take a step back. Your customers all take a similar journey with your product. From onboarding to their first referral, there are predictable moments where users tend to pause and weigh your worth. And if you’re there at each of these decision making cross-roads, providing value and helping your customer move forward, you’ll create a seamless system of retention. In this article, we pinpoint these at-risk moments and help craft strategies to counteract potential churn at each of them.
<p>Churn refers to the loss of customers who are subscribed to or use a service. Churn rate is an important component of growth because it is tied to the retention of users of a service. When more users churn, retention rates are lower. When churn rate is high, it is harder to grow a product or service because more new users are required to offset the users who churned from the service. Churn is particularly important in SaaS businesses and other businesses where users pay a recurring subscription fee. These businesses creaet profit from long customer retention spans and a high customer lifetime value. When churn is high, businesses can't capture the full expected lifetime value. These are the best articles on how to reduce churn and improve customer lifetime value. From how to reduce churn, how to generate negative churn, how to use customer success to lower churn rates and hacks to reduce churn, you'll find tactics to improve retention and growth for your business.</p>
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