All your questions & the answers for the Churn Rate
With the COVID-19 Pandemic, the digital marketing playground is filling up with new players. In this situation, retaining your active users is as important as acquiring new ones.
Understanding why your users stop using your product and solving those issues reduces the churn rate.
As a result, you can develop & increase your product/ service and at the same time make your customer satisfied.
As the Appgain Growth team, we prepared an extensive whitepaper about Churn: why low churn rate is important, why users might stop using your product, the challenges while working on decreasing the churn rate & what are the most suitable solutions.
In this article, we’re gonna talk about what the Churn rate is, why it’s important, and why keeping it at bay is a necessity for any successful growth marketeer. As with any good problem-solving process, we need to ask ourselves why does churn rate happen in the first place, and the answer could be any of the below:
- The user journey might be complicated.
- The user may not be satisfied with the product offer or the after-sales support…
- The user may have a pending complaint, refunds, or received not completed order.
- The purchasing process might be long and distracting for the user.
- They might have heard a bad comment about you.
- They might have needed a push to purchase, which you didn’t send.
What challenges do marketers face when trying to decrease the churn rate?
- Not knowing the reasons for the inactive users.
- Lack of user insights.
- Poor segmentation of users.
- Long action & measurement process.
- Not analyzing the outcomes of the measurement.
- Making campaigns & actions that are not possible to measure or track.
- Insisting on an assumed value instead of listening to the customer.
- Being unable to get feedback directly from the user or monitor his behavior
Now we, at Appgain, are working with enthusiasm to save the marketers, CEOs, and growth specialists from a bunch of tools they use for customer management. Those tools are expensive, complicated and lots of integration required. If you are interested in what we do at Appgain, visit Appgain.io.
To receive your handbook, drop your email form here and we’ll send you your white paper. Other than the points mentioned above, you’ll find the answers for those questions: what is the churn rate, why a low churn rate is important, why users might stop using your product, the challenges while working on decreasing the churn rate & what are the most suitable solutions.