A churn report is an extremely important tool used by businesses to track customer attrition and analyze the effectiveness of their retention strategies. It allows companies to identify opportunities for improvement and gain insights into factors which contribute to customer churn. This data-driven approach can ultimately help businesses reduce customer churn and ensure longevity within the marketplace.
The typical churn report will include metrics such as total active customers, net change in customers over time, average engagement time, overall retention rate, and others. By analyzing these factors, teams can design better marketing campaigns, adjust existing pricing models, and make sure customers are satisfied with their products and services.
In short, the purpose of a churn report is to provide businesses with valuable insights which can then be used to increase loyalty, foster customer satisfaction, and drive long-term profitability.