Here's How We SLASHED Our Churn Rate by 15.12% This Month! ๐ค
๐ ๐๐บ๐ฎ๐ด๐ถ๐ป๐ฒ ๐ต๐ฎ๐๐ถ๐ป๐ด ๐ฎ ๐ฐ๐ผ๐บ๐บ๐๐ป๐ถ๐๐ ๐๐ต๐ฒ๐ฟ๐ฒ ๐บ๐ฒ๐บ๐ฏ๐ฒ๐ฟ๐ ๐ป๐ฒ๐๐ฒ๐ฟ ๐๐ฎ๐ป๐ ๐๐ผ ๐น๐ฒ๐ฎ๐๐ฒ. At Skool Masterclass, weโre making that a reality, and the results are amazing! As the new Skool Mentor, my job is to keep our members happy and sticking around. Hereโs what weโve achieved so far: โข ๐๐ต๐๐ฟ๐ป ๐ฅ๐ฎ๐๐ฒ ๐ฃ๐ฟ๐ผ๐ด๐ฟ๐ฒ๐๐: Our churn rate stayed around 33.22% for months, showing barely any progress. โข ๐๐๐ด๐๐๐ ๐ช๐ถ๐ป: We reduced it to 28.22%, (5% difference) our best month since we had 200 members in February. Now, with 1,000 members and a price point of 125$ p/m, thatโs a huge win! ๐๐ฟ๐๐ป๐ฐ๐ต๐ถ๐ป๐ด ๐๐ต๐ฒ ๐ก๐๐บ๐ฏ๐ฒ๐ฟ๐: This means that if we calculate this, 33,22% / 5,% we reduced our overal churn rate with 15,12%! In only 1 monthโฆ This isnโt just about keeping a few extra people aroundโitโs about creating a wave of positive momentum that makes our community stronger and more engaged than ever. ๐๐ผ๐ ๐ช๐ฒโ๐ฟ๐ฒ ๐๐๐๐๐ถ๐ป๐ด ๐๐ต๐๐ฟ๐ป ๐ฎ๐ป๐ฑ ๐๐ผ๐ผ๐๐๐ถ๐ป๐ด ๐๐ป๐ด๐ฎ๐ด๐ฒ๐บ๐ฒ๐ป๐: 1. ๐๐ฎ๐๐ฎ-๐๐ฟ๐ถ๐๐ฒ๐ป ๐๐ฒ๐ฐ๐ถ๐๐ถ๐ผ๐ป๐: With the help of @Kevin Wong We dove deep into our data to spot which members were likely to leave and why. 2. ๐ฅ๐ถ๐๐ธ ๐๐ฟ๐ผ๐๐ฝ๐ถ๐ป๐ด: We categorized members by their risk of leaving so we could focus on those needing the most attention. 3. ๐ฃ๐ฒ๐ฟ๐๐ผ๐ป๐ฎ๐น๐ถ๐๐ฒ๐ฑ ๐ฆ๐๐ฝ๐ฝ๐ผ๐ฟ๐: We reached out to at-risk members with tailored support, making it easier for them to stay. 4. ๐ฃ๐ฟ๐ผ๐ฎ๐ฐ๐๐ถ๐๐ฒ ๐ฃ๐ฟ๐ผ๐ฏ๐น๐ฒ๐บ-๐ฆ๐ผ๐น๐๐ถ๐ป๐ด: We monitored members closely to catch small issues before they turned into big reasons to leave. ๐๐ฎ๐๐ฎ = ๐๐ถ๐ป๐ด: With insights from 248,247 data points, we discovered four key risk levels: 1. ๐๐ฎ๐ป๐ฐ๐ฒ๐น๐น๐ถ๐ป๐ด ๐ ๐ฒ๐บ๐ฏ๐ฒ๐ฟ๐: Theyโve already clicked cancelโact fast to save them. 2. ๐๐ฒ๐ฐ๐น๐ถ๐ป๐ถ๐ป๐ด ๐ ๐ฒ๐บ๐ฏ๐ฒ๐ฟ๐: Payment issues can be fixed with a quick reminder. 3. ๐ก๐ผ ๐ฃ๐ผ๐๐ ๐ ๐ฒ๐บ๐ฏ๐ฒ๐ฟ๐: 60% of those who left had never posted. Engagement is key. 4. ๐๐ผ๐ ๐๐ป๐ด๐ฎ๐ด๐ฒ๐บ๐ฒ๐ป๐ ๐ ๐ฒ๐บ๐ฏ๐ฒ๐ฟ๐: Less interaction means higher risk of leaving. ๐๐ฒ๐ฒ๐ฝ๐ถ๐ป๐ด ๐ข๐๐ฟ ๐๐ผ๐บ๐บ๐๐ป๐ถ๐๐ ๐ง๐ผ๐ด๐ฒ๐๐ต๐ฒ๐ฟ: ๐ฆ๐๐ผ๐ฝ๐ฝ๐ถ๐ป๐ด ๐ ๐ฒ๐บ๐ฏ๐ฒ๐ฟ๐ ๐ณ๐ฟ๐ผ๐บ ๐๐ฒ๐ฎ๐๐ถ๐ป๐ด Weโre making sure our community stays strong by focusing on members who might leave. Hereโs our step-by-step plan: