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Unchecked churn can have serious impacts on your bottom line. Discover how you can minimize churn in this free Recurly Research Metrics Report.
Compiled using metrics from more than 2000 businesses over the last year, Recurly Research is the definitive report for subscription billing metrics, industry benchmarks, and actionable insights for the eLearning and Education industries, including insight on:
Voluntary and involuntary churn rates, rates by ARP, and the drivers
Decline rates, top reasons, and the industries impacted most
Recovery rates by decline reason, ARPC, and failure types
Acquiring a new customer is anywhere from 5 to 25 times more expensive than retaining an existing one.
The higher your churn rate, the more customers you must acquire to grow. A churn rate of 5% per month is equal to losing nearly half of your existing customers in a single year—meaning half of your revenue. And the effort and expense that went into acquiring, training, provisioning, and supporting those customers are all lost. What is a healthy churn rate for education and what does that mean to your bottom line?
You can retain more than 69% of lost subscribers with an effective decline management strategy.
15% of monthly revenue on average goes uncollected due to credit card declines. With more than 2,000 reasons why a payment transaction can fail, recovering that revenue and retaining subscribers can be a massive challenge. Before you can take action to mitigate involuntary churn, you have to understand your payment decline reasons.
