Retention review · Q4 2024
Monthly churn fell from 4.2% to 2.1% in 2024
The new onboarding shipped in March. Accounts that joined before March still churn at 3.8% a month.
Growth analytics
Monthly churn, December
2.1%
−2.1 pts vs January
New accounts finishing setup in week one
61%
+19 pts vs January
Net revenue retention
112%
Top quartile for the sector is 110%
Annual revenue retained
$1.9m
Compared with churn staying at the January rate of 4.2%
Monthly churn fell from 4.1% in March to 2.1% in December
Share of paying accounts cancelling each month, 2024
Starter plan churn fell from 6.1% to 2.9%
Monthly churn by plan, January and December 2024
“Setup not finished” was the reason for 14% of cancellations in Q4
Share of cancellations by stated reason, Q4 2024. “Setup not finished” was 38% in Q1
What to do
- Offer the guided setup to the 2,400 accounts that joined before March
These accounts churn at 3.8% a month.
Lifecycle · by end of February
- Make the setup checklist the default on the Team plan
The checklist is opt-in on Team today. Team churn was 2.0% in December.
Product · Q1
- Measure churn again in March 2025
That will give 12 months of data since the new onboarding shipped.
Growth analytics