When attempting to limit customer churn, or the percentage of customers who stop using a company’s service or product over a period of time, it’s important that businesses be able to take some level of responsibility for their customers leaving. Rather than simply putting the onus on the customer, businesses must be willing to understand that customer churn is 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 how a business fails a customer, providing a less than memorable customer experience is sure to contribute to some level of customer churn. The thing is this could be a result of something that a business has yet to even consider. For example, a business may never even get the chance to gain a new customer if they’re unable to accept that customer’s preferred payment method. Without the right level of billing support, a customer might never be able to purchase from your business. It’s hard to say this is strictly the businesses’ fault, though. That said, it serves as an important lesson: every interaction a customer has with your brand, whether good, bad, direct, or indirect, there will be some level of consequence. In understanding this, it’s essential to always be considering the ways in which your business approaches the customer experience. For more valuable information on how to bolster your customer experience, check out the resource presented alongside this post.
How CX Can Combat Customer Churn an infographic provided by BillingPlatform, a company offering a specialized cloud billing platform