Learn more about product with this collection
How to adapt to different speaking situations
How to engage with an audience
How to use body language effectively
The Churn Rate Explained
In product management, we use the ‘ leaky bucket’ analogy. If you have a lot of leaks you'll never fill your bucket. Without filling the bucket, you’ll never achieve growth.
Customer churn rates are these leaks. Paying attention to churn rates is another step towards understanding your customer base, and how well you serve their needs.
2
0 reads
MORE IDEAS ON THIS
A High Churn Rate
Most of the advice in relation to building great digital products focuses on how to retain users.
User/customer retention is often the lifeblood of a software business. If your product or service cannot keep the customers it attracts, it cannot grow.
2
0 reads
Customer Churn vs Revenue Churn
Churn consists of two categories:
- Customer Churn refers to how many individual customers have deleted their accounts, cancelled their subscriptions, or not logged in for X amount of time.
- Revenue Churn focuses on the value of these customers, ...
2
0 reads
Identifying The Source of the Churn
A few common causes for high churn rates are:
- Competitors: When a new competitor arise, it's natural to have a peak in churn rate as customers shift over to see what they have to offer.
- False advertising/disingenuous marketing: Bad marketing le...
2
0 reads
How to Reduce Churn
- Damage control: The key is to lean into controversy. The first step is to communicate openly and let your customers know what happened. Then tighten up on security and roll out an update.
- Rewarding loyalty: Existing customers...
2
0 reads
CURATED FROM
IDEAS CURATED BY
Read & Learn
20x Faster
without
deepstash
with
deepstash
with
deepstash
Personalized microlearning
—
100+ Learning Journeys
—
Access to 200,000+ ideas
—
Access to the mobile app
—
Unlimited idea saving
—
—
Unlimited history
—
—
Unlimited listening to ideas
—
—
Downloading & offline access
—
—
Supercharge your mind with one idea per day
Enter your email and spend 1 minute every day to learn something new.
I agree to receive email updates