Churn Rate, commonly referred to as Attrition Rate or Customer Turnover Rate, measures the percentage of customers and subscribers who discontinue the use of products or services over a given period.
High churn rates could indicate customer dissatisfaction, lack of engagement, or market competition – so monitoring it is vitally important for businesses looking to retain customers. Monitoring churn rates helps identify factors affecting retention strategies as well as create strategies to enhance customer satisfaction and loyalty.
