Churn Rate
Content
Definition
Churn Rate is a business metric that calculates the number of customers who leave a product over a given period of time, divided by the remaining number of customers.
Usage and Context
Churn rate helps businesses understand how many customers they`re losing. It`s important for tracking customer satisfaction and loyalty.
Frequently asked questions
- What is the churn rate metrics? Churn rate measures how many customers stop using a service over time. It shows the percentage of lost customers.
- What is the churn rate of a business? The churn rate of a business is a percentage. It shows how many customers leave compared to the total number.
- Is churn rate a marketing metric? Yes, churn rate is a marketing metric. It helps understand customer behavior and the effectiveness of marketing strategies.
Benefits
Knowing your churn rate helps you improve your product and customer service. It can lead to keeping more customers.
Conclusion
Churn rate shows how many customers a business loses. Keeping it low is key to growing your customer base and success.
