From the course: Growth Marketing Foundations
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Churn rate
- Retaining customers will be key to meeting your growth goals. We measure people leaving your business through what we call the churn rate and this is the percentage of customers who canceled their subscription relative to the number of paying customers for a selected time period. Now, this seems pretty straightforward, but step into the growth marketing community and you'll find at least 40 different arguments on how to calculate churn. It's honestly a very hotly debated topic and it generally stems from the question of how do we define the time period? If we look at a month, are we capturing data at the first of the month or the last day of the month or somewhere in the middle? And for any given month, you may have customers that signed up in the month before, those that are renewing, and those that just joined. How do we handle all of these variables? Here's my take. If you're at the scale where all of those…
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