Why Declining Churn Rates Can Be Misleading – Daniel McCarthy Explains | Unofficial Shopify Podcast
"Customers that you acquire at the very beginning of your corporate life, they're probably more the true believers."
Join us for an in-depth conversation with Daniel McCarthy, a distinguished professor known for his groundbreaking work on customer lifetime value (LTV) and churn rates. McCarthy's research has provided new insights into the true meaning behind declining churn rates and their implications for subscription businesses.
*Timestamps:*
00:00:00 Introduction to Churn
00:00:55 The Declining Churn Fallacy
00:05:32 Impact of Skipping on Churn Measurement
00:07:19 The Research on Churn
00:08:45 Factors Affecting Churn
00:10:41 Churn in Non-Subscription Businesses
00:15:51 Case Study: Hubble
00:20:13 Implementing Churn Analysis
00:22:57 Predicting Customer Departure
00:24:51 Churn Analysis for New Businesses
00:28:06 Incorporating Qualitative Data
00:30:49 Trends in Churn Analysis
00:35:44 The Importance of Holistic Analysis
00:41:59 Actionable Steps
00:44:27 Learn More about Daniel McCarthy
Daniel McCarthy is a professor of marketing who has published extensively on customer lifetime value and customer retention metrics. His recent paper on the “Declining Churn Fallacy” has challenged traditional views on churn rates, making him a leading voice in the field. McCarthy's work helps businesses better understand the nuances of customer loyalty and provides actionable insights for improving retention strategies.
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