Customer Churn Calculator

Calculate your savings using Bloom’s Wifi Marketing & Analytics at-risk customer tools for multi-unit restaurant or retail operators.

 

Enter your store’s information below to see your potential savings.

Churn Calculator

Customers you receive per month? i How many customers come to your location(s) in a month?
How many locations do you operate? i How many locations are in your business?

Total customers visiting per month i Total number of customers that visit your location(s) every month.

What is the attrition rate? i As a % of all your customers how many do you predict stop being customers?
35%

Estimated lost customers per month i Estimated number of customers you lose in a month.

What is the average value of a customer? i What is the average ticket value of a customer when they visit your location(s)?

How often do customers visit in a month? i How often do your customers return to your location(s) every month)?

Monthly revenue loss by losing one customer i Estimated monthly revenue loss from losing one customer

Monthly decrease in revenue from all churning customers i Estimated lost revenue caused by losing customers

How many customers might return with the right offer? i How many of your lost customers would return if they received an offer?
19%



Estimated Savings by Utilizing Bloom's At-Risk Campaigns:


Projected Monthly Savings

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Projected Annual Savings

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Combating Customer Churn

Customer churn isn’t an isolated event. It’s a process that can start at any time. From when potential customers discover your offerings to when they finally make a purchase. Your company’s strategy to combat customer loss must work similarly. Provide an end-to-end solution — and it all starts with your data.

Use the customer churn calculator above to get an idea of the revenue your business could generate by saving at-risk customers, and why this is such a critical issue to resolve.

Customer-Generated Sources

You can’t understand why customers decide to leave without observing interactions from their perspective. These clues include responses solicited from surveys as well as voluntary feedback such as social media mentions.

The customer’s point of view is the most important facet of churn. After all, her perception of an interaction relates directly to how well your company meets customer expectations. For example, you may look at a phone call to customer service and see metrics such as how long it took to speak with a representative as a factor in churn.

While this may very well be part of the picture, the customer will likely view it a bit differently. For her, the most important measures of success would be how effectively her problem was solved. Even if the issues had to be escalated to another tier of customer service. Or the suitability of any alternatives that were offered if her ideal solution couldn't be met. These are the most valuable metrics when it comes to customer-side data.

Technological Sources
Customer Churn Calculator

Innovations that the churn-battling companies have at their disposal are making it easier than ever to monitor major churn indicators in brick-and-mortar environments. These parameters range from traffic data, conversion rates and amount spent, to behaviors. Behavior may include where customers go in a store and what activities they carry out while they’re there.

Bloom Intelligence's churn indicator, for instance, provides a quantifiable overview of the percentage of a business’s customers that have not returned and are presumed lost during the selected time period. Behind the scenes, it calculates customer churn for each individual customer, based on individual customer frequency distribution.

Knowing your churn rate enables you to more reliably predict how many times customers will return. And, coupled with customer spending data, their lifetime value to your business. This, in turn, gives you a better idea of how much you are willing to spend in order to retain a current customer through restaurant marketing or other means. It generally costs your organization more money to acquire a new customer than it does to retain a current customer. This is why it is critical to understand your churn rate. And Why you should have automated processes to measure customer churn and to retain customers.

Putting it All Together

These parameters are all concrete, controllable elements, serving as the basis of an effective strategy to quash churn. Conducting continuous research and leveraging existing customer data to identify the most significant pain points is the only way to properly identify and eliminate the reasons for customer loss. It’s also the key to creating optimal experiences that don’t leave room for churn-inducing scenarios.

By connecting the feedback and other data from all sources, you can identify broad patterns in dissatisfaction and abandonment and then delve into the specifics of why each customer was lost.

Understanding churn requires comprehensive knowledge of the customer journey from start to finish. You also need insight into your clientele's needs and behaviors. This includes how customers interact with your company, what they do — or are likely to do — once interactions are complete. Each element is attached to an observable piece of data originating from a variety of sources. Sources may include customer service records, social media and technological tools. Analyzing this raw churn data requires a sound assessment strategy to predict and reduce customer loss effectively.

Using the customer churn calculator above can help you understand how much revenue your business could be saving by using Bloom's WiFi marketing and analytics platform to measure churn, create surveys, and create at risk customer campaigns.


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