Churn, when applied to a customer base, refers to the proportion of contractual customers or subscribers who leave a supplier during a given time period. It is a possible indicator of customer dissatisfaction, cheaper and/or better offers from the competition, more successful sales and/or marketing by the competition, or reasons having to do with the…
Churn is a simple concept but seems to be complicated. This is because of two reasons: 1) it is a vital instrument to understand if your business is doing well and 2) someone wants to get paid to make it appear complicated. This article is to simplify the concept of churn. We will do so…
Download our ebook on Customer Health Score here. Customer Health Score (CHS) is an important metric for all businesses. A metric that is meant to predict a customer’s likelihood to churn or continue to stay on and grow. This should be designed to provide insight into what is happening in your customer accounts early enough….
The cost of acquiring a new client is 5–25 times more than retaining a new one. Therefore, if you are looking to grow a successful SaaS business, you have to manage churn. A high churn rate provides a general perception of unsatisfactory services. Other than losing clients, you will find it hard attracting new ones….
Businesses that deliver their services through a SaaS model have to prioritize customer retention. Maintaining existing customers is as important — if not more important — as acquiring new customers. But SaaS success goes beyond customer retention. The right combination of sales and customer success management produces a positive customer relationship that helps customers attain…
Providing solutions through a SaaS model is a great way to develop and nurture enduring customer relationships. As a SaaS provider, your business is, however, dependent upon retaining customers. Unlike companies that deal with single transactions, your customer’s ongoing success is more crucial than any feature or benefit that your software offers. SaaS is convenient,…
The key to preventing churn is taking a customer-focused view and orienting and simplifying all activities around it. For software as a service (SaaS) companies, customer churn is a constant concern. You can have the best platform on the market and stellar customer service and still lose customers every month. Of course, there are always…
