Companies that examine churn analytics to drive retention and up-sell achieve higher customer lifetime values. Therefore, they are able to invest more in customer acquisition, which means they can capture more market share over time.
When you work with churn analytics, you probably need to focus on these kinds of questions.
- What were bookings in the last period? (By rep, region, product, etc.)
- How do we compare to other companies in growth and share?
- What do our leads and pipeline indicate about future bookings?
- What revenue are we losing from churn and gaining from up-sell?
- How do we stack up to other companies?
- What does the health of our customers tell us about the future?
Analytics to predict churn and tools to analyze product experience is what Gainsight is all about. No other platform is more focused on improving customer retention.