Growth Experiments is a complete platform to track ideas, hypotheses and results.
Many brands spend a lot of money on SEO, marketing, Facebook, Instagram, and Google advertising as well as influencer marketing to earn more customers. Major firms have a significant focus on customer acquisition. On the other side, few give high emphasis on customer retention. Loyalty program assists in gaining more loyal customers and in growing micro-influencers.
<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>