How to Improve Churn in Your Membership Business
Getting people to sign up for your membership site can be tricky, and once they’re there, you have to know how to keep them. However, with an optimized approach, keeping existing members around and avoiding churn doesn’t have to be that hard.
The article below goes through some of the major causes of member churn, and the steps you can take to avoid each one. Some causes are unavoidable, but with the right approach you can greatly reduce your rate of lost members and keep your membership count on the rise.
According to Harvard Business Review it costs between 5 and 25 times more to acquire a new customer than to keep an existing one. Wow! Are you putting exponentially more effort, care, and attention into nurturing existing member relationships relative to acquiring new members? That exponential effort can be reduced over time if you put the proper infrastructure in place now. Laying a solid foundation for churn optimization poises you for scaling later. Here’s how to do it.
Read full article: Demystifying churn and what to do about it