What Metrics Should Be Monitored Alongside Churn Rate?
1. Customer Lifetime Value (CLV): This metric helps you understand the total revenue you can expect from a customer over the entire duration of their relationship with your business. 2. Monthly Recurring Revenue (MRR): Tracking MRR can give you insights into your recurring revenue streams and how they are affected by churn. 3. Customer Acquisition Cost (CAC): Understanding how much you spend to acquire new customers can help you balance against the costs incurred from churn.