What Churn Is and How to Reduce It | Ep. #69
Marketing School - Digital Marketing and Online Marketing Tips
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
- 06:28 – Qualaroo and Google Analytics
- 07:14 – One Key Metric
- 07:31 – Dunning
- 07:41 – Churn Buster
- 07:58 – Use Visa and Master Card updater
- 08:39 – Pausing or stopping a subscription and restarting again
- 09:18 – That’s it for today’s episode!
- Remember to ask your customers for their feedback.
- Know what people love about your product or service.
- Know what metrics are important for your business.
- Qualaroo and Google Analytics – Tools you can use to identify your metrics
- One Key Metric – Josh Elman’s post
- Churn Buster – Tool you can use to limit dunning
Leave some feedback:
- What should we talk about next? Please let us know in the comments below.
- Did you enjoy this episode? If so, please leave a short review.
Connect with us:
Learn more about your ad choices. Visit megaphone.fm/adchoices
See omnystudio.com/listener for privacy information.
Available Results
Generated results are saved to your library for reuse and search.
Choose Template
Pick the result you want. You can review provider and model before generating.
A concise first-pass summary for understanding the episode quickly.
A comprehensive, source-grounded extraction of the reusable knowledge in an episode.
A comprehensive extraction focused on opportunities, strategy, markets, and company building.
Explicit actions, next steps, habits, recommendations, and things to avoid.
Repeatable methods, frameworks, mental models, processes, and systems.
A dedicated inventory of concrete resources named in the episode.
A concise first-pass summary for understanding the episode quickly.
A detailed readable summary organized by chapter or topic.
A navigable map of subjects, topic flow, and suggested chapters.
A comprehensive, source-grounded extraction of the reusable knowledge in an episode.
Reusable atomic knowledge units extracted from the episode.
A comprehensive extraction focused on health practices, protocols, claims, and safety caveats.
A comprehensive extraction focused on opportunities, strategy, markets, and company building.
Explicit actions, next steps, habits, recommendations, and things to avoid.
A dedicated inventory of concrete resources named in the episode.
A dedicated analysis of warnings, limitations, trade-offs, weak evidence, and uncertainty.
A concise first-pass summary for understanding the episode quickly.
A detailed readable summary organized by chapter or topic.
A navigable map of subjects, topic flow, and suggested chapters.
A comprehensive, source-grounded extraction of the reusable knowledge in an episode.
Reusable atomic knowledge units extracted from the episode.
A comprehensive extraction focused on health practices, protocols, claims, and safety caveats.
A comprehensive extraction focused on opportunities, strategy, markets, and company building.
Scientific findings, mechanisms, studies, hypotheses, and the limits of the evidence discussed.
Technologies, AI models, technical methods, capabilities, limitations, and adoption implications.
Investment theses, assets, catalysts, valuation reasoning, time horizons, and risks.
Chronologies, actors, causes, consequences, turning points, and competing historical interpretations.
Policies, proposals, stakeholders, arguments, implementation constraints, and predicted effects.
Career paths, skills, hiring signals, workplace decisions, transitions, and limitations of the advice.
Behavioral mechanisms, biases, motivation, habits, emotions, interventions, and evidence limitations.
Economic mechanisms, incentives, indicators, market structure, forecasts, and uncertainty.
Leadership principles, team systems, organizational design, culture, feedback, and failure modes.
Audience, positioning, messaging, acquisition, retention, experiments, metrics, and failed approaches.
Teaching methods, learning strategies, practice, feedback, assessment, and effectiveness evidence.
Theses, premises, arguments, objections, values, thought experiments, and unresolved questions.
Communication patterns, conflict, boundaries, expectations, repair methods, and contextual limitations.
Books, papers, authors, courses, and other learning resources mentioned in the episode.
Repeatable methods, frameworks, mental models, processes, and systems.
Explicit actions, next steps, habits, recommendations, and things to avoid.
Memorable statements and important claims with attribution and source context.
A dedicated inventory of concrete resources named in the episode.
A dedicated analysis of warnings, limitations, trade-offs, weak evidence, and uncertainty.