IBC SHOWCASE: Churn prevention is one of the most important factors when it comes to subscriber management in the media industry, this whitepaper will shed some light on it.
The focus of the whitepaper is to discuss the various types of subscriber churn, the reasons that may cause them, and how they can be mitigated. Churn rates vary from industry to industry, but from a broader perspective in business to customer (B2C) and business to business (B2B) environments, the typical average churn rate is around 5.6%.
When looking in more detail, B2C content providers see a higher churn rate – sometimes as much as 7%. Voluntary churn (where a customer is dissatisfied with the service) is around 4.2% when compared to involuntary (where a customer has had an issue with the service) at around 1.4%. The three key steps are to understand the reasons why your customers churn, use this information to put proactive measures in place to prevent churn, and apply reactive measures to catch churn before the customer leaves.
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