Churn rate, or churn rate, refers to the percentage of customers who stop using your products or services within a given time period. This can be annual, quarterly, Graphic Design or monthly, but your churn rate gives you a clear idea of how many users are moving in your business versus how many users are moving. Properly analyzed, and all things being equal, an organization's Graphic Design churn rate is the key metric that gives the best idea of how long the organization has been running.
If more people leave a business than join – or if not enough people join relative to the percentage of people who leave – it's only a matter of time before the Graphic Design business dies. Avoidable customer churn would cost U.S. businesses $136 billion a year. In a study that analyzed the growth of technology companies, McKinsey found that if a SaaS company is growing at less than 20% per year, 92% is likely to be gone in a few years. Zoho has also found that if you Graphic Design can reduce customer churn from 2.5% to 1%, you will have double the number of customers in eight years. reduce customer churn graph So how do you reduce churn and retain more customers?
Here are six research-based strategies you can start Graphic Design using today. 1. Over-delivery on first customer interaction First impressions are important when it comes to customer churn. Most customers will make up their minds about your brand based on their first interaction with you, and it can be hard to change their minds once an impression has formed. An example of a good first impression is this welcome email from Envira Gallery .