The churn rate is the percentage of subscribers who cancel their subscriptions within a given period of time. In the subscription business, churn rate is a key metric that helps businesses understand and improve customer retention.
A high churn rate can be caused by many factors, including poor customer service, high prices, or a lack of features that meet customer needs. Therefore, it’s important for businesses to monitor their churn rate and take steps to reduce it.
There are several ways to reduce churn in the subscription business. These include providing excellent customer service, offering competitive prices, and developing features that customers want. By reducing churn, businesses can improve their bottom line and keep more customers happy.
