Churn Statistics
It's hard to get data around churn rates, as it depends on the company industry, pricing structure, audience engagement, etc. You'll see anything from 2% churn for super engaged audiences to 6% for medium engagement, then up to 11% churn is something that's still common.
The highest percent of people churning will happen in the first month. For some industries average LTV is indeed just three months, which can be discouraging. So getting people to sign up for annual plan instead of the monthly is a great way to get higher ROI on a single client on average, even if you give a steep discount
To help reduce your churn rates:
- Do regular content updates.
- Do regular touchpoints with your audience (integrating with an email marketing tool like Drip here or Mailchimp here will allow you to do this easily.)
- Run promotional offers regularly (offering coupons can help with this) See here.
- Actively asking for feedback from your audience of what they like/ dislike or want more of. You could create a survey for them that you send via email.
- Check out your Analytics tab to see what your audience is watching the most. See here. Consider adding more content similar to their interests.
- Reviewing churn reasons (available in the tool), then acting to improve on those