Customer churn should be top of mind for all organizations. The importance of a strategically executed customer onboarding program was our last topic. Such a program cements new customer loyalty and commitment. A strong onboarding program also sets the stage for the new customer bringing you more of their business. However, the flip side of converting new customers to long term customers is losing them – customer churn. Customer Churn Definition The measurement commonly used to assess losing customers is called “churn”. The ratio is determined by dividing the number of new customers who leave your business by the number of new customers you have acquired during the same period.… Read More
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