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A Quick Way To Lower Your Startup’s Churn Rate

Churn. It’s a dreaded word for any startup. Descriptive, it brings up images of upset stomaches flipping over and over again, which is perfect because that’s exactly what startup founders are feeling when they’re faced with a high churn rate on their site. Customers coming in and leaving again quickly without buying anything or signing up for any lists is the death knell for any early stage startup or anyone who’s trying to scale.

 

Sick

 

ChurnSpotter has a solution.

 

Using analytics and payment services that your site already employs (i.e. Mixpanel, Stripe, or KissMetrics), ChurnSpotter spots the customers that are most likely to churn through your site without taking the desired action, whether that’s making a purchase or signing up for a mailing list. They’ll highlight the reasons those customers are about to bail and help you figure out what actions you need to take in order to keep them.

 

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All the site requires to begin analyzing your startup is your analytics and payment API keys. From there, they employ machine learning to produce a churn report within one hour. Once that initial report is complete, they promise to have any new customer reports done within 24 hours, for the length of your time with ChurnSpotter.

 

Although the site has only just launched, ChurnSpotter is already seeing great results, with customers repoting a 30% reduction in churn rate and some reporting even higher results.

 

“We created ChurnSpotter as we truly believe churn is a problem companies face at some point,” says Jean-Louis Fuccellaro, CEO & cofounder of ChurnSpotter. “It should be a no-brainer to identify, understand and act on your at-risk customers. Therefore, we fully automated all steps from onboarding to engagement for our customers to concentrate on their job. Churn decrease is my only metric.”

 

ChurnSpotter has a range of prices, depending on your company’s needs. There’s the Standard package, that comes in at $199 a month, all the way up to the Enterprise option, which is individually priced. They also have a startup package at $19 a month — contact them if you think you qualify.

 

Money

 

ChurnSpotter is still young but users can expect more analytics, payment, and CRM sources soon. Jean also told me that they’ll be offering integrations with “top digital marketing automation platforms,” so definitely keep an eye on these folks if you’re looking for a great way to increase your monthly recurring revenue on your SaaS or mobile app startup!

 

Image Credits

Gifs from GIFwrapped | ChurnSpotter | Rawpixel/Shutterstock

Author : Emma McGowan

Emma is a proud native of Burlington, Vermont, who has lived in six different countries over the past two years. She's living and loving the global nomad life and writing about technology and startups everywhere she goes. Check out more of her writing about tech on (the more titillating stuff) KinkAndCode.. Follow her on Twitter @MissEmmaMcG.

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