The tabs included in this document include April 2020 - April 2022 churn data.
The churn data is segmented into 8 main categories.
A description of all the categories, the biggest takeaways, and the scale of impact of each churn factor can be found below.
The following categories include:
This category shows the new accounts PhoneBurner lost, from Q1 2021 to Q1 2022, based on whether they were a team or solo account and whether they were a premium, standard, or professional account.
The biggest takeaway from this is that PB has gotten better at retaining new team accounts over the last year.
This category breaks down the accounts PhoneBurner lost based on account size from all the new accounts that signed up between April 2020 to April 2022.
From the data collected, the accounts that have the best retention rate are large teams, small teams, medium teams, tiny teams, and solos respectively.
This category breaks up account churn rates by industry based on churn data collected from users that signed up between April 2020 to April 2022.
This tab shows that the industries that have the best retention rate by the size they make of PB’s customer base both short term and long term are mortgage, solar, and legal respectively.
This category breaks down churn rate by how many times a user logs in during the first 30 days.
This tab shows that there is a slight correlation between login rates and churn rates as customer’s that stay log in 2.5 more times on average/month than customers that churn.
This category breaks down churn rate of customer’s that use vPhone and don’t use vPhone.
This tab shows that customers that use vPhone do have a wildly better retention rate than customers that do not.
This section dives into the effects discounts have on churn rates.
This tab shows that customers that got a discount do have a better retention rate than customers that do not.
This section displays how PhoneBurner’s churn has specifically changed from Q1 2021 to Q1 2022.
It seems as though account type has no real impact on churn rates, and we have gotten better at retaining teams.
This section displays the impact of PhoneBurner’s Covid Relief Program.
We have had great success from our Covid Relief Program, and there is more information on this bellow.
Since my last report from June 2021, the following things have been discovered:
Listed by importance:
1) How successful our Covid Relief Program was:
We gave out over $25,000 in free PhoneBurner Services From that we have gotten over $266,000 in MRR from the customers we helped
In total we turned a $25k loss into $266k - Everyone should be super proud!
2) Customers with vPhone have better retention than I previously believed:
The data we collected showed that 15% of customers in the last two years have used vPhone, and the majority of those vPhone users had extremely better short and long term retention compared to customers that never touched vPhone. This could be the case because more of our premium teams use vPhone, and most of those teams have better churn. We should also consider how we can get more user’s to try vPhone because that may increase our overall retention rate.
Impactful Churn Factors:
Updated list of churn factors that make a good/bad churn customer:
Listed by importance:
This section holds all of the tables used to gather the information above.
By: Otto Rydell