In general, the number of customers a company loses in a specific period (in its broadest sense: the number of customers moving out over a specific period of time). – In the case of a bank or insurance company, the percentage of clients who, upon expiry of their contract, decide not to be in contact with this institute any longer. A high churn rate indicates deficiencies in the product range and/or apparent neglects in customer care. – In many institutions, the churn rate must now be reported to top management – even on an ongoing basis – and is regarded as an important success factor for assessing long-term success. – See authority management, banking, relationship banking, relationship management, clubbing, customasing, geomarketing, banking, house bank, intensive care unit, internet bank, pure, credit scoring procedure, customer capital, customer interest, customer entrainment, customer proximity, customer care, customer centricity, McDonaldization, online banking, local bank, profiling, rainmaker, interest rate bargain hunter.

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk
https://www.jung-stilling-gesellschaft.de/merk/
https://www.gerhardmerk.de/

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