What Is Customer Churn?

Customer churn is the loss of customers in a business. It is calculated based on how many customers leave your business at a certain time. Customer churn is an important value for businesses to know because it reflects how successful a business is at keeping customers by its side. 

Customers are valuable in every business. But do you know that some customers may be more valuable than others? This measure is also known as the Customer Lifetime Value (CLV), a crucial value for your business to look into.

Businesses devote a huge deal of time, effort, and resources to ensure success. They might even be fixated on numbers such as sales, number of visitors, and ROI, assuming that healthy numbers are an automatic indication of business success.

Customers are the lifeline of any business. Undoubtedly new customers are important for the growth of a business, but it is also vital not to ignore prevailing customers. Nowadays, customer retention is at the lead of every company’s strategy. There are several effective customer retention techniques, and one of them is - customer loyalty program.