In today’s landscape, customers harbor exceedingly high expectations, seeking not only top-tier products or services but also a seamless and optimized interaction with the brand. Meeting these demands is paramount for brands to prevent high rates of customer churn and revenue diminishment, as consumers may divert their attention elsewhere. The concept of “customer experience” (CX) encompasses all interactions customers have with a brand throughout each stage of their journey, ranging from customer service calls to observing social media advertisements. These interactions accumulate, shaping the overall relationship between the customer and the brand. In essence, CX encapsulates the collective sentiment customers harbor about these interactions and, consequently, their perception of the brand. Enhancing CX is crucial to mitigating customer churn, defined as the percentage of customers discontinuing the use of a company’s service or product over time. Customer churn can result from both avoidable and unavoidable reasons, with a significant portion attributed to an unsatisfactory CX. Thus, improving CX would mean an organization would also simultaneously be able to limit customer churn. To learn about the ways in which organizations are doing both these things in tandem, read on to the infographic accompanying this post.
How CX Can Combat Customer Churn an infographic provided by BillingPlatform, a premier provider of secure billing services