What is Followers Churn Rate?
Followers churn rate helps you understand how quickly you are losing existing followers on social media channels. Knowing how fast they are leaving your audience can give you an insight into potential problems and how to better serve your current audience. By tracking followers churn rate, you can determine if you are attracting the right kind of followers, and if there are any changes you should make.
Formula
Followers Churn Rate = (Number of Followers Lost / Initial Number of Followers) x 100
Example
For example, if you have a total of 10,000 followers and 500 of them unfollowed you within one month, your followers churn rate would be 5% (500/10000 x 100 = 0.05). The lower the followers churn rate, the better.
Why is Followers Churn Rate important?
- Followers churn rate is a great indicator of customer retention on social media channels. It gives you an insight into which users may have had a poor experience and why they decided to leave your audience instead of potentially becoming a customer in the future.
- By knowing the reasons behind people deciding to unfollow you, you can ensure that you are delivering them optimal content and using the right channels to reach them. Monitoring your churn rate can help you understand the effectiveness of your content and if you need to make any changes to how you communicate with your audience.
Which factors impact Followers Churn Rate?
- There are several steps you can take to improve your followers churn rate. Firstly, ensure you’re delivering content that is highly relevant and engaging to your audience. If your content lacks relevancy and doesn’t communicate the right message, it will be harder to retain your followers.
- Secondly, make sure you are targeting the right audience with your content. If you are promoting or advertising content that is outside of the interests of your target audience, it is likely more people will leave than stay.
- Lastly, analyse your followers as they unfollow so that you can understand what kind of behaviour or content is causing them to leave. Use data to Observe what they interacted with previously and how their engagement with your brand decreased over time.
How can Followers Churn Rate be improved?
- Followers churn rate is heavily influenced by the quality and quantity of content you deliver. If your content is irrelevant or lacks engagement, followers will quickly unfollow. The frequency of your content also matters – too much or too little content could potentially lead to people leaving.
- It is also important to ensure that you have the right followers. If your followers are not in line with what you offer as a brand, then it could lead to an inactive and un-engaging audience. Lastly, customer service and interaction plays a key role in followers churn rate. If people aren’t receiving prompt and helpful answers to their queries, then they will be more likely to unfollow.
What is Followers Churn Rate’s relationship with other metrics?
- Followers churn rate is closely related to other ecommerce metrics such as customer lifetime value, acquisition cost and customer retention rate. The higher the followers churn rate, the lower the customer lifetime value and customer retention rate will be, meaning that marketers will have to spend more to acquire customers.
- The lower the followers churn rate, the more customers they will be able to retain, and so the lower their acquisition cost will be. Knowing your followers churn rate can help you calculate your customer lifetime value, which in turn helps you calculate how much money you are willing to spend on marketing and acquisition.
