Client retention rate is one of the best measures of business health. Loyal clients mean fewer dollars spent on marketing efforts, increased personal referrals that bring in new clients, and a more predictable and stable income.
Measuring Retention Rates
Let’s say you run a promotion and gain 10 new clients. One month later, 8 of those clients are still members. Congratulations on your 80% retention rate! But, two months after that only two of those clients are still active. Now your retention rate is only at 20%. To really get a sense of client retention, you have to consider long-term trends and patterns.
Premium Reporting Powered by Looker
Pike13’s Premium Reporting, powered by Looker, helps you uncover those trends and patterns. You can gain a clearer picture of your clients’ membership activity and identify clients at risk of churn by tracking member changes and running comparisons over time.
Track changes in membership to help you gain a clearer picture of your clients’ member activity and identify clients at risk of churn. Dashboards allow you to easily see:
- New members
- Returning members
- Churned members
Clicking down into the numbers on the dashboards takes you to client details.
Most importantly, you’re able to compare retention month-over-month, year-over-year, or within a timeframe that you specify. These comparisons can help you uncover patterns in client behavior and retention.
The Answers are in the Data
By upgrading to Premium Reporting, you’ll gain access to the Member Comparison Dashboard and the many other Looker-powered reports to help you track the health of your business.
You can upgrade to Premium Reporting by contacting Pike13 at firstname.lastname@example.org.