Signs Your Company Has A Churn Problem
Here are a few signs/red flags that you might have a churn problem:
- Your churn is outpacing new customers.
- LTV is shrinking: The longer your customers stay with you, the higher the lifetime value (LTV) of your average customer should be.
- Your churn rate is above 10%: 5-7% is considered an average churn rate. But when you start getting into double digits, it’s usually a sign that something in your process isn’t working.
- More downgrades than upgrades: If you offer different plans or add-ons for your product, you want to have more customers upgrading than downgrading.
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Life is like facebook. People will like your problems & comment, but no one will solve them because everyone`s busy updating theirs.
In this guide, we’re going to go over six strategies to reduce churn, with real-life examples from SaaS companies that have successfully done it.
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Customer Churn
The number of customers who cancel your service or stop buying your products over a set period of time.
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