Acquiring a new customers is about 5 times more costly than retaining one you already have.
How to define a Slipping Away Company
A company is slipping away when it's not getting value from your product anymore. A way to determine the former condition is to look at which company is not performing certain actions which are the core of your product in a certain time period.
If you are not sure which actions to pick just look at which company didn't do anything at all in let's say, the last 2 weeks
The time period to monitor should be, as a rule of thumb, 2 or 3 times the average usage frequency. For example: if your average company uses the product 2 times a week, take 2 weeks with no actions as the time frame to consider a user slipping away.
Why Slipping Away companies
As said above you should do everything in your possibilities to retain most of your users.
No matter how good your product is, some of them will start to drift away.
Understanding who they are before the actual churn happens could be crucial. You can then reach out to them and try to re-engage them before it's too late.
How to use the Churn Risk template
To get the full list of the companies which are drifting away from your product you only have to:
pick the core events that represent the most important actions users can do in your product (events in the setup picker are ranked from the most recurrent to the least one so if you are not sure which to choose, just pick the top 5 ones)
select the time period
Go to results and re-engage with them before it's too late. If you wish to use your CRM to do so, just download the CSV and upload it there!