Apologies for the late posting, it has been another crazy week in the land of digital.
The next #EcomChat will be on Monday 20th May at 1pm UK time. The topic will be ‘Ecommerce & Marketing Churn Rate’, an interesting topic suggested by @willdymott, who heads up ecommerce at Lyle & Scott.
This may sound dull at first glance but understanding and measuring churn, or attrition as some people refer to it, is really important. What’s interesting is there doesn’t seem to be a standard for doing this and how people report on churn varies considerably. So this chat session aims to reveal what we understand by churn and the different ways people slice and dice data to reveal the numbers. And can we agree on a standard definition?
As ever – there are 3 loose conversation starter questions:
- What are the different ways in which you can measure churn rate e.g. churn rate by marketing channel?
- What metrics should people use to measure/monitor churn rate e.g. volume/value?
- What are the benefits to businesses of understanding their churn rate?
Do spread the word to anyone you think may be interested, do join in if you’re free at 1pm UK on Monday, or simply follow the #EcomChat hashtag on Twitter. If you’re wondering “what is this all about?” there is an about page to help show that we’re not mad, yet.
Dan & James.