Marketing School | Digital Marketing | Online Marketing

In Episode #69 Eric and Neil talk about churn—what it is and how entrepreneurs can reduce it. Listen as walk through the process of measuring churn, the importance of knowing what your customers love about your product or service, and what tactics you can implement to kill churn in your business. Time Stamped Show Notes: 00:28 – Today’s topic: What is churn and how to reduce it? 00:35 – Churn is a metric number 00:42 – Churn = customers you are losing per month divided by all your customers 00:55 – Neil’s experience with churn 01:29 – If it sucks you’ll get high churn; if it’s great you’ll get low churn 02:14 – Churn of 2% or under is acceptable 02:38 – It’s difficult to scale a business with 5% churn 03:10 – Conduct a survey to your audience to know what’s wrong 03:35 – Neil’s tactics to reduce churn 03:50 – Yearly subscriptions 04:41 – Put invoices on the dashboard 05:11 – Find out what people love about your product 06:17 – Figure out what metrics are important to you or to the users 06: