If you're only allowing teams to access your top tiers (or if you aren't supporting teams at all), you might be missing out. Cut churn by optimizing every plan for collaboration.
When working with individual users, churn rates can be pretty high (~5% per month). Teams, however, often have much lower churn rates (1-2%). And each account tends to grow more with teams, allowing companies to more easily reach net negative churn. Simply put, this is because more value is created and there's more friction in canceling when a user is collaborating with others. Plus, if a user is inactive, notifications from other collaborators might reactivate them. If your product already supports teams, consider opening up team access on all tiers — not just the more expensive ones. If your product is not set up for teams yet, consider pivoting to allow for collaboration. And this doesn't just apply to B2B companies. B2C companies can also find ways to support teams (like family and friends).
We share a tiny, bite-sized tip for growing your business a few times a week. Click here to see more and get Growth Bites in your inbox 👌