Getty Images Many metrics go into analyzing customer retention rates, and churn rate is crucial to understanding why customers stop using your product or service or stay with you long-term. In this article, we explain why businesses must understand, calculate, track, and decrease their churn rate to retain customers and grow revenue. What is churn rate? Churn rate is a business metric that measures the percentage of clients who decide to stop using your product or service, such as not...

Customer relationship management (CRM) strategy involves using business software that helps professionals and teams optimize communications with prospects and clients to drive sales, foster customer retention, and boost revenue. In this guide, we explore the benefits CRM tools offer businesses and an overview of how they work. We also dive into which professionals should consider a CRM system and how much you can expect to pay for one. What is CRM software? CRM software is a business tool...