How do I calculate churn rate?
An example of an AI chatbot conversation about calculating churn rate for businesses.
How do I calculate churn rate?
To calculate churn rate, divide the number of customers lost during a period by the total number of customers at the start of that period.
Can you give me an example?
Sure! If you start with 100 customers and lose 5 in a month, your churn rate would be 5/100 = 0.05 or 5%.
What is a good churn rate for a subscription business?
A good churn rate varies by industry, but generally, a rate below 5% is considered healthy for subscription businesses.
How can I reduce churn rate?
To reduce churn, focus on improving customer satisfaction, offering better support, and engaging customers with personalized content.
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