Churn basically means the percentage of people who stop paying you during a given time period. If the churn rate is high, your offering is probably not good enough.
Reasons for high churn:
- Weak customer service
- A poorly upgraded product
- A better offer from the competition
- Payment challenges
- People no longer interested in what you do or they simply found a better alternative
- Weak relationship between the brand and the end customer
Churn rates between 20 and 30 percent are considered normal. But you should do whatever it takes to lower this.
