How CX Can Combat Customer Churn

Organizations must understand that the importance of customer experience is essential in maintaining customer relationships for the long-term. Fortifying this experience and building a relationship with customers is what will allow a loyalty to their brand to be built over time.  Failure to maintain these relationships and ensure the customer experience is exceptional can result in customer churn, which refers to the percentage of customers who stop using a company’s service or product over a period of time. While avoidable, most churn is the result of an unsatisfactory customer experience. There are instances in which the churn is related to an inability on the customer’s side though. For example, if a customer identifies 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 that does. By simply improving billing operations, perhaps through additional payment processors, this could be avoidable. All this to say, customer experience goes beyond just the way in which you communicate with customers but extends into considerations that might otherwise be overlooked. To avoid overlooking these considerations, be sure to check out the resource that’s shared alongside this post for more on the importance of customer experience.

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