11–20 of 22 posts
I don't want companies with lots of customers to senselessly fake some sort of meaningful relationship. I hate when companies do that. No, I'm not here because we're pals and you make me feel like a regular barfly and know my name. I'm here because you sell something I want to buy and you want my money.
I have a sense that I would completely despise whatever it is that Churnkey is peddling to businesses.
Yes, churn is a metric. It's not always someone rejecting you. It could be that they just needed your product to solve a problem and then unsubscribe. They are not rejecting you but you've served the need and so they stop paying you.
How is that different than rejection?
As this stuff scales you need for think of churn as a cohort and start looking at why. I don't argue that. But, framing it as rejection is incorrect. Guess it depends on the service you're providing though. If it's something highly personal where you, the person are highly involved, then it might be rejection. But, I think that's pretty niche.
Yes, churn is a metric. It's not always someone rejecting you. It could be that they just needed your product to solve a problem and then unsubscribe. They are not rejecting you but you've served the need and so they stop paying you.
How is that different than rejection?
He's churned, but he hasn't rejected the service. He just doesn't need it anymore because his circumstances have changed. If he needs the service it offered, he could presumably re-subscribe to it later.
Earlier quoted context omitted.
Author here. You'd be surprised how many founders / operators I've spoken to over the past two years who work so hard to avoid discussing cancellations. At the core of it, they're hurt and scared by it. So yeah, it is dramatic. It's a very human phenomenon.
I think it's really interesting to look at what innate aspects of our humanity that made total sense 10, 20, 30k years ago (e.g being hurt by rejection) can negatively impact our modern lives, and how we can try to push past them.
Do we avoid acting like animals or memorize shared memes that make it ok and help us ignore it; like believing confession erases all sin? Do we just chant “we’re not like those smelly apes” while piling shit into landfills and the ocean so we don’t feel like those apes?
Earlier quoted context omitted.
How is that different than rejection?
My personal take is that it's more of a service (ie Software-as-a-Service). So, you use the service for what you need then stop when you don't need it anymore. That's not rejection that's not needing that service anymore. Say for example, that I have car insurance. I sell my car and cancel the insurance. Does that mean I'm rejecting the insurance company. No, I just don't need that service anymore. As this stuff scal…
Imagine someone were to lose a family member and as a result they decide that meal planning has become too much of stressor in their daily life. So they sign up for HelloFresh (use promo code "HN" for 15 free meals). As time goes on, things slowly return to normalcy– life goes on. They no longer feel like meal planning is too much of a burden.
I wonder what churnkey's plan would be to retain this customer.
Earlier quoted context omitted.
My personal take is that it's more of a service (ie Software-as-a-Service). So, you use the service for what you need then stop when you don't need it anymore. That's not rejection that's not needing that service anymore. Say for example, that I have car insurance. I sell my car and cancel the insurance. Does that mean I'm rejecting the insurance company. No, I just don't need that service anymore. As this stuff scal…
That's interesting. I see your example as being rejection; you are rejecting the service and that's made obvious by canceling the service. What I suspect is causing the difference in perspective is the emotional association. But then we have to wonder, does rejection require negative emotion to be true? Which I'd say, no.
Earlier quoted context omitted.
That's interesting. I see your example as being rejection; you are rejecting the service and that's made obvious by canceling the service. What I suspect is causing the difference in perspective is the emotional association. But then we have to wonder, does rejection require negative emotion to be true? Which I'd say, no.
I'll tell you what I reject. The idea of paying for anything I don't need anymore. Haha. Guess it's all academic at this point since we're talking about examples.
Churn greater than about 10% is a death sentence for a SaaS business. And it's a metric every investor will ask about and every potential employee ought to.
I'm sure it depends somewhat on the type of SaaS you are running.