To reduce customer churn in your business, the key lies in enhancing the overall customer experience. Customer churn, represented as the percentage of customers discontinuing the use of a company’s service or product over time, is a significant factor contributing to a company’s potential failure. This phenomenon results from both the actions and inactions of the organization and the customers. In the former case, an unsatisfactory experience, whether directly encountered or stemming from displeasure with how a business addresses issues beyond the customer’s own experience, can inevitably lead to this churn. In the latter case, customers may face obstacles like connectivity issues or lack of preferred payment options, hindering their ability to make purchases. Simply failing to support the right payment method may prevent customers from completing transactions, which emphasizes the importance of catering to diverse payment preferences. Customer loyalty is notably sensitive, and a single instance of not offering a preferred payment method can result in the loss of a potential repeat customer. Therefore, optimizing your business’s customer experience, even down to the payment methods you accept, is imperative. For more information geared toward optimizing the customer experience, read on to the infographic paired alongside this post.
How CX Can Combat Customer Churn an infographic provided by BillingPlatform, a premier provider of secure billing services
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