Every SaaS and Membership business owner will be aware of the customer churn which is destroying their business and they are losing their monthly profit and efforts.
Before starting if you do not know What is churn rate?
Churn rate is the % of customers who leave your service in a specific period of time.
For example, if you have 1000 customers at any given time and 50 leave over a month, your churn rate for that month is 5%. If every customer paying you $50 for each membership than you are losing $2500 monthly. Yearly it will be $30,000.
What if you have a 10% churn? Some companies face a 30-40% churn rate. How big is this number and you are losing thousands of dollars?
Hope now you have full understanding about the churn rate and how it's destroying the membership business.
There are many reasons of customer high churn like:
- High Price
- Low Quality
- Poor Service
- No need for further
- Lack of tool knowledge
- Complicated process
- Extra charges
First you need to understand what is the major problem. That's why people leaving your product can be calculated by the Churnfree.
When you know what is the base reason for the customer high churn try to resolve it as fast as possible?
Can I reduce it to zero? The short answer is no, but can you reduce it?
This can be reduced by Churnfree, a customer retention tool that will help you in the reduction of high customer churn.
It’s easy to integrate with the Churnfree when the user presses the membership cancel button it will start working first. It tries that the customer did not cancel the request by offering them an offer which you create with Churnfree. If the user agrees with the offers hurrah you have saved your customer but if the user did not accept the offer still churnfree ask the reason why he/she is leaving in this way you know the real reason what is wrong with your product.
Churnfree can save up to 46% of churned requests. Let again understand this in numbers if you receive 100 members and cancel requests out of 1000. Then it can save your ~46 customers in the month. You can imagine how big this number is and how much money you can save.
Try Churnfree today for your Product growth!
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