When you hear 'churn,' think about ice cream! It's like when you're stirring something again and again. In simple words, churn means to mix or stir something vigorouslyin a strong, fast, or energetic way.
'Churn' is often used in business to talk about customers leaving a company or servicedoing something for someone else. So, if a lot of people stop using a phone servicedoing something for someone else, the company has high churn.
In a business context, 'churn' often refers to the rate at which customers stop doing business with an entity in a defined period. It’s seen as a critical metrica way to measure something in evaluating business health, especially for subscription-based modelsservices or products paid for periodic use.
Context
Business
For a telecomcommunication over distance company, high 'churn' rates can indicate customer dissatisfaction with service quality. The COOChief Operations Officer might say, 'Our churn rate has increased by 10% in the last quarter, signaling a need for improved customer service.'
For subscription services, marketing professionals may utilize 'churn rate' to measure the effectiveness of retention strategiestechniques to keep customers. A marketing analyst could suggest, 'A high churn rate could be indicative of insufficient customer engagementinvolvement or participation.'
In software as a service (SaaS) companies, 'churn' refers to the loss of subscribers over time. A Product Manager might note, 'We noticed an upticksmall increase in churn rate following the recent software update. We may need to address potential bugssoftware errors.'
In the context of consumer goods like makeup products, 'churn' may represent the number of customers who stopped buying a particular brand. A brand manager might assertstate firmly, 'The customer churn rate for our latest product line is worryingly high.'
Practice Professional Conversation
Listen to the given audio and respond using 'churn'.
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