Churn rate is the percentage of customers who stop using a company's products or services during a given time period.
Churn rate is a silent profit killer for businesses.
High churn rate can negatively impact business growth and profit.
Customer retention and loyalty are key factors in reducing churn rate.
Businesses can reduce churn rate by improving customer satisfaction, providing excellent customer service, and offering incentives for customer loyalty.
Regularly monitoring and analyzing churn rate can help businesses identify areas for improvement.
Reducing churn rate can lead to increased customer lifetime value and long-term business success.