What is churn?
Churn is the number of people who've decided to stop using your streaming service. It's like when someone cancels their subscription or stops using your platform. We don't want that – we want people sticking around.
So, we measure churn to see how many are bouncing out compared to how many started at the beginning.
Churn Rate = (Number of customers lost during a period / Total number of customers at the beginning of the period) * 100
High churn means we're losing many users and we want to figure out why.Why do they leave? Is it because of the content issues? Maybe they don't find it easy to use? Is your service pricey? Or perhaps they found a competitor’s service?
If we can figure out why they're leaving, we can have a better way to make them stay.
How to figure out the cause of churn?
To figure out the cause of churn, analyze user data for usage patterns and conduct competitor analysis. However, the most direct and effective way is to ask users themselves when they cancel their streaming subscription through targeted exit surveys.
Here is how to set up an exit survey
From the Monetization section of the left menu, select Manage Monetization and then SVOD.
To add a new coupon, click on the Create Cancel Reason button.
Type in your reasons one by one
Here in this example, I am addingSeeking different content preferences
Improvement needed in user experience
Pricing is a concern
Experiencing technical difficulties
Opted for a competitor's offering
Others. Please specify (this will be added by default on the cancellation page)
When a user cancels, they will see a simple exit survey popup
Once they specify the reason, you can immediately offer a discount and change their mind. Or use this data to know what caused the churn and follow up later with targeted messages.
You can set up your trigger in the manage email trigger setup or export the canceled users along with reasons to your CRM and send emails from there.
How to download canceled user along with the date, reason, plan, and date information
From the Analytics section of the left menu, select Monetization and then SVOD Summary
Drill through the Cancelled User section
Filter date range and Export the result to Excel from the right-hand side filters
Save the CSV file and import data to your CRM
Email Templates
Here are some templates that can help you win back your users
Seeking different content preferences | Improvement needed in user experience | Pricing is a concern |
Follow Up every 3 months with content updates
Hey {Name}, Feeling like your watchlist needs a makeover? Before you wander, explore our hidden gems & curated picks - you might just rediscover your streaming soulmate! {images of new launches}
| Followup immediately
Subject: UX Hiccups Got You Down?
Hey {Name}, We're crushing bugs like flies to make your streaming smoother than ever! Before you jet, tell us what bumps you're hitting - your feedback helps us build a binge-worthy paradise.
| Follow up periodically and let them know if you have any offers
Subject: Feeling the Budget Pinch?
{Name}! We hear you. Saving those screen-time bucks makes sense. Snag our exclusive offers. You might just find your streaming sweet spot.
|
Experiencing technical difficulties | Opted for a competitor's offering | Others |
Follow up immediately
Subject: Tech Tiff Got Your Stream Fizzling?
We're truly sorry to see you go, {Name}. Before you hit the road, use code SORRY123 for a special offer on your next watchlist adventure! We'd love to have you back, but if it's time to part ways, "Cancel Anytime" with our best wishes. ✨
| Follow up immediately and also periodically with latest updates
Subject: Wait! Weekly freshies calling!
Hey {Name}, New shows tempting you elsewhere? We get it! Before you say goodbye, remember the binge-worthy bangers we add every week! Originals, movies, the good stuff! Tell us what lured you away, and let's make your streaming dreams come true.
| Come up with customized category based on their answer
Show them you care
Try to win them back |