Even the best businesses lose customers. You will too. Knowing why this happens is one of the most valuable insights your growing business can have.
Perform Root-Cause Analysis
What differentiates the best businesses is how they incorporate and adapt to customer feedback, and customer churn is the clearest feedback you can get. With all your customer touchpoints—profile, purchase history, and support history—Uncover what’s causing these customers to leave with RJMetrics. Update your product, pricing, and customer support process accordingly.
Measure Revenue and Customer Churn
Whenever you look at churn, it’s important to measure it on both a customer count and a revenue basis. Don’t make the mistake of only measuring one or the other: you’ll miss key trends in your business. Measure both revenue and customer churn with RJMetrics, on an aggregate and percentage basis.
Measure Churn for Your Ecommerce Business
Churn rate is typically thought of as a metric used by software-as-a-service businesses, but it’s just as important to measure churn if you run an ecommerce site. Customers that make several purchases and then never return have effectively churned. Discover what customer profile churns and what profile keeps coming back.
Harder than it Looks
Churn is one of those metrics that is deceptively hard to correctly measure in a spreadsheet. In order to get a report of three-month trailing churn, you need to create an surprisingly complex spreadsheet. Then you need to start slicing the analysis by different dimensions. That’s a serious time commitment from your analyst. Use the pre-built churn dashboard in RJMetrics and have it all at your fingertips.