What is Churn Rate? How to Calculate Customer Churn (Definition + Meaning)

churn rateWhen it comes to running a business, particularly a SaaS company, understanding churn is vital.

There’s a lot to cover, so let’s cut straight to the chase.

In this Process Street article, we’ll look at:

  • What is churn?
  • How to calculate churn rate
  • Churn examples: From Facebook to Twitter to HubSpot
  • Why do customers churn?
  • McKinsey’s 4 best practices to increase retention rates 15%
  • 3 practical steps to reduce churn in your business
  • The Harvard churn management algorithm
  • Churn management resources to help you reduce churn
  • Use Process Street to help you tackle churn in your business

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The Harvard Churn Management Algorithm to Boost Profits 115%

churn managementIt’s an accepted reality of business that customers come and go.

This is why we’re always on the lookout for new customers – we know we can’t just rely on the existing ones to keep things ticking over.

Yet, we don’t have to accept this fact lying down. And many don’t!

This article is about fighting back against those customers abandoning ship; about stemming the tide of the churn.

In this Process Street article, we’ll look at:

  • What is churn management?
  • What are the different types of churn?
  • How the telecom industry pioneered churn management
  • The 4 best practices across telecom’s big players
  • The 3 critical steps to implementing best practices
  • The Harvard trick to boosting profits by 115%

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