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The Martell Method w/ Dan Martell

Feeling stuck in your business or on the edge of explosive growth but don’t know how to break through? Join Dan Martell as he shares the methods he used to transform his life and business from rehab at 17 to building a $100M empire, becoming a bestselling author and a world-class executive coach. In each episode, Dan dives into the mindset shifts, health strategies, and business tactics that’ll get you to your goals without burning out. And he covers it all through storytelling, raw vulnerability, and simple frameworks that you can apply immediately. Subscribe to transform your challenges into opportunities and become the best version of yourself. Get Dan’s Book (Buy Back Your Time): https://bit.ly/3pCTG78 Subscribe to The Newsletter: https://bit.ly/3W2tjp2 A 5 minute weekly email to upgrade your identity, get in the best shape of your life, and build a business you don't grow to hate. IG: https://instagram.com/danmartell X: https://x.com/danmartell
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Aug 5, 2019

Exclusive Resource: Revenue Retention Cheatsheet™ - Stop The Bleeding & Scale Your Marketing With Confidence - http://bit.ly/2FHGVOi

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And it goes like this:

How much is it?
– It’s not that bad…
Look, it’s simple. Just give me a number. OK?
– It’s 20% – not that bad, right?
WOW… Your churn is 20% monthly? 

*issues a small prayer to all the SaaS gods*

The above is a conversation I recently had with a potential coaching client… GOOSEBUMPS!

Let me put this into perspective…

If your churn rate is at 20% and for one reason or another you fail to add any new customers… in just 5 months… you will churn through all of your existing customers and be left with nothing – simple math. 

The worse part, it pulls down your Lifetime Value of a Customer so it makes it really tough to invest in growth and is usually the reason startups fail.

You should always know exactly where you’re standing on your churn levels and you should be doing the best you can to fight these levels back and get that MRR up

You should make sure you UNDERSTAND CHURN!

In this episode of the SaaS Growth Stacking Show, I give you the 4 things you should pay attention to and stay on top of to make sure you stop the bleeding and SCALE-UP!

At a high level, these are the 4 things you need to keep in mind:

1. Churn Flatline
2. Maximum Viable Churn
3. Moment of Churn
4. Fight the Impact

Now… 

Where does it all begin? It starts with answering one simple question… What does churn mean?

If you cannot define it – you cannot measure it… and you absolutely need to define it! 

You don’t want to find yourself in a situation where your customer success team is measuring something else entirely that skews your data.

Start with something simple. Usually, there are 2 types of Churn – one is Cancellations and the other is Involuntary Churn.

Involuntary Churn can be 20%-40% of your Churn and a lot of times is quite easily fixable. 

There will be times where it is caused by simple payment failures and these ones, as frustrating as they are, can be tackled with great tools such as ProfitWell or FlexPay. 

Cancellation Churn’s moment, on the other hand, is well defined – it’s when a client doesn’t renew their subscription. 

Between the notice and the renew date, there is a period of time that you can really engage with the customer and save the account. 

If you implement a strong cancellation process you can save 30%-40% of these clients. A lot of times it’s up to downgrading, showing the solution, talking about their problems – SIMPLE, RIGHT?

You have to sit down and define the moment of churn with your team. Get aligned. There are things you can always do and improve and this is one of them. You need it to blast into space!

Don’t worry, it’s a solvable problem and I give you the strategy in my Churn Buster CheatSheet.  I provide 9 strategies that you can deploy today to help you reduce your churn. 

If you cannot find the solution for your business there – write a comment below with your question and let’s get the answer your business needs together.

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Dan Martell has advised more startups than his hometown has people and teaches startup founders like you how to scale. He previously created, raised venture funding for and successfully exited two tech startups: Flowtown and Clarity.fm. You should follow him on twitter @danmartell for tweets that are actually awesome.

+ Instagram (behind the scenes): http://instagram.com/danmartell
+ Facebook (live trainings + Q&A): http://FB.com/DanMartell
+ Twitter (what I'm reading): http://twitter.com/danmartell

Exclusive Resource: Revenue Retention Cheatsheet™ - Stop The Bleeding & Scale Your Marketing With Confidence - http://bit.ly/2FHGVOi

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