The formula
churn = cancellations in the period ÷ customers at the start
What it means
Churn measures what proportion of customers leave in a period. Its importance is not in the number but in its inverse: at 5 % a month, the average customer lifetime is twenty months, and that is what sets how much you can afford to spend winning one.
How to work it out by hand
- Count the customers you had at the start of the period
- Count the cancellations in that same period
- Divide the cancellations by the starting customers
- Invert the result to see how long a customer lasts on average
What is worth knowing
The figure that stings is the twelve-month projection: at 5 % a month, 1,000 customers become 540 within the year, and you have to win 460 simply not to shrink. That is why cutting churn by a point is usually worth more than raising acquisition by 20 %. Two warnings on measuring it: work it out on the ending customers rather than the starting ones and it comes out lower than it is; and if the business is growing fast, churn is diluted because the denominator includes customers too new to have left yet.