Create strategies that maximize retention and minimize churn.
Calculate your basic customer retention rate on a monthly and annual basis.
Compare your retention rate against benchmarks for your product and industry niche.
Calculate your net revenue retention rate to understand how different subscription levels impact the impact of retention.
Calculate your monthly and annual customer churn rate.
Calculate your monthly returning revenue churn to understand revenue loss and the impact of that loss.
Calculate your customer lifetime value to understand the impact of increasing retention.
Calculate your customer renewal rate to understand how proactive your subscribers are in staying with your solution.
Report on all relevant retention metrics at least monthly, including visual charts that show trends over time.
Adjust your retention metrics as needed, based on stakeholder feedback.