Objective

Our user churn for the last one year was 5.9% which is within the industry standard limits. What’s concerning is our monthly churn:

• For Apr ‘24: 6.4%
• For Mar ‘24: 5.3%
• For Feb ‘24: 4.4%
• For Jan ‘24: 8.4%

This should be under 1% as per general industry standards. As of now, we do not know the correct reasons as to why our customers are churning.

The objective of this this project is to collect data and discover those reasons.

We can move back in time in phases of three months starting with the most recently churned customers to figure out more pressing and fixable issues. Phase 1 of this project will to cover data from Feb, Mar, and Apr of 2024.

Process (Phase 1):

Step 1: Data Collection

The raw data of churned customers in 2024 is already available. We just need to pull data for the last three months and add reasons to them with a few other data points like LTV, etc.

Step 2: Finding Reasons

The reasons why customers are churning can be one or more from the following:

• Involuntary churn: Business shut down, poor financial situation, etc.
• Onboarding issues: Poor onboarding/Adoption (eg. Data import, Channel Integrations, Lack of self-service, etc)
• Lack of features: Lack of desired features (eg. roadmap, new integrations for phone etc.)
• Product issues: Issues with current product (speed, bugs, reporting, etc)