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Churn rate shows the percentage of customers or subscribers who cancel their subscriptions or stop doing business with you within a given time. A high churn rate affects profits and interferes with growth. The churn rate is calculated by dividing the number of lost customers by the number of customers at the start of the given period, then multiplying it by 100.
Banks must ensure that their digital platforms are user-friendly, offering features like easy account management, instant transactions, integrated banking services in mobile apps, responsive customer service through chatbots or other digital tools, and more. Enhancing the overall digital experience can significantly reduce the likelihood of customers switching to competitors.
Alternatives to client-side tracking, such as server-side tracking, are becoming increasingly important in online marketing, especially as third-party cookies are gradually being phased out. Although Google has recently canceled its planned deprecation of third-party cookies, many browsers like Safari have already been blocking them since 2003. As a result, businesses seeking reliable and actionable information…
