How CX Can Combat Customer Churn

The only way to decrease the amount of customer churn experienced by your businesses is to improve the customer experience. Customer churn, calculated as the percentage of customers who stop using a company’s service or product over a period of time, is one of the leading forces toward a company failing. It occurs as a result of both the action and inaction of an organization, in addition to the action and inaction of a customer. In the case of the former, a business will inevitably lose a customer as a result of an unsatisfactory experience they have. Whether that be a direct experience, or displeasure regarding the way a business handled an issue outside of their own experience. In the case of the latter, a customer may be unable to purchase from a business if they experience connectivity issues or insufficient funds. This is often seen through the different billing methods that a business may or may not offer. Simply not supporting the right payment method can result in a customer being unable to purchase from your business. The volatility in certain customers cannot be understated, though. Even one instance in which your business didn’t offer their preferred payment method could mean they never return to attempt to purchase again. This is why it’s imperative to optimize your businesses’ customer experience in such a way that every customer feels respected and well-serviced.  c extremely volatile. Even something as simple as one strike can be enough for them to disrespect any existing loyalty and instead shop elsewhere. Thus, proving the importance of optimizing even the most minor details in the customer experience for your business. Interested in learning how to do so? Check out the infographic included alongside this post.

How CX Can Combat Customer Churn an infographic provided by BillingPlatform, a company specializing in billing automation software

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