It has become much more common in the e-commerce era for businesses to lose connection with their customers. When this occurs, businesses experience customer churn, which refers to the number of customers who have stopped using an organization’s product or service over a period of time. For many businesses, this is a natural occurrence. Unless you are an evergreen company, there will be peaks and troughs throughout any organization’s life. That said, when a business fails to adapt to the times, they welcome this churn. For example, throughout the e-commerce era, businesses have found success in improving the customer experience through website and user interface improvements. Take the modern mobile checkout page as an example. Nowadays, customers are savvy enough to be able to navigate an online checkout in only a few simple steps. However, if a business were to overcomplicate such a simple process, there is sure to be a number of customers who would then refrain from completing their purchase. Though it may seem minor, the truth is even these things contribute to the overarching customer experience, which is why it’s so important that businesses continue to prioritize the changing needs of their customers. For more information on how businesses are staying prepared and defending against customer churn, please check out the resource coupled alongside this post.
How CX Can Combat Customer Churn an infographic provided by BillingPlatform, a company offering a specialized cloud billing platform