In the world of taxi business, it's not just about knowing traffic rules. As an entrepreneur, know ab like churn rate and retention rate are key.

Churn Rate: The percentage of customers who exit from using the services termed as churn rate. 5% is recommended as a good churn rate per month for new startup businesses. Lower is better, aiming for nearly zero.

Retention Rate: The percentage of customers using your service for a specific period. The maximum number of persons using the service notifies the satisfied customers. The service must maintain the customers towards the business.

Steps to Improve:

1. Focus on Target Customers: The importance of knowing the customer audience cannot be underestimated. Working towards the attractive offers for the customers is a must.
2. Safety-First: The safety of the customers comes first and since the app is digital data privacy should also kept in mind before developing the app.
3. Personalized Service: For attracting customers personalized notifications and offers must be infused in the app.
4. Reduce Waiting Time: Less waiting time increases customer convenience and it can benefit retaining customers.
5. Customer Engagement: Develop an engaging and user-friendly interface to attract users. More loyalty programs and regular notifications can keep customers engaged.

How a Taxi Booking App Helps:
Increase Retention:

Use user data for personalized service.
Design matters: an interactive app UI/UX enhances the experience.
Notifications for post-ride marketing campaigns.
Loyalty programs with cashbacks and offers.

Minimize Churn:

Effective marketing, loyalty, and referral programs.
Retarget inactive users with personalized offers.

Consider SpotnRides for App Development:
Clone scripts for cost-effective app development.
SpotnRides provides Uber clone scripts tailored to your business.
Interface and features can be customized for your target audience.

In Conclusion:
Knowledge of the churn and retention rates is crucial for a thriving taxi business. An Uber clone app from SpotnRides can be your one-stop solution, helping you create a loyal customer base. Tailor your needs to develop a user-friendly business app.