Idea: Reduce the percentage of churned users by offering a compelling alternative to canceling completely.
Details: It's much easier to retain a paying user that's already familiar with your brand than it is to acquire a brand new user. That's why reducing churn should be a top priority if you're in SaaS or any kind of subscription based selling.
Suggesting a compelling alternative to canceling is one way to combat this churn. You can try the option to downgrade to a lower-tier plan, which is better aligned to the needs of the customer, or a few hours of consulting with the customer success team that will allow the customer to take advantage of the product.
Pure Chat has implemented these principles to great success in their offboarding experience (see attached).