How CX Can Combat Customer Churn
Taking steps to improve customer experience is essential in avoiding customer churn, which refers to the percentage of customers who stop using a company’s service or product over a period. This happens for both avoidable and unavoidable reasons. Most churn is the result of an unsatisfactory customer experience. However, it may also stem from poor connectivity and insufficient funds on the customer’s side. For example, if a customer finds that a particular organization doesn’t accept their preferred payment method, there’s nothing to stop them from instead going and shopping with a competitor. This form of customer churn is avoidable assuming organizations take the right step to avoid it. Improving billing operations, perhaps through additional payment processors, can help ensure that any way a customer prefers to pay, they’ll be able to do so. Unfortunately, customers are extremely volatile. Even something as simple as one strike can be enough for them to disrespect any existing loyalty and instead shop elsewhere. This is why it’s so important to take the steps necessary to ensure that your organization is providing an exemplary customer experience for each of its customers. For more information on the ways in which your organization can do so, please see the infographic highlighted alongside this post.
How CX Can Combat Customer Churn an infographic provided by BillingPlatform, a company specializing in billing automation software