Around 17% of customers could abandon a brand after one bad experience.
As a majority of a company’s business comes from existing customers, brands must deliver great experience to improve retention rate and boost ROI. Track and measure KPIso optimise customer experience. Also track metrics like churn rate, customer effort, net promoter score, retention rate and more.
Brands should also conduct customer surveys and ask them to rate their experience. Integrating customer support processes with CRM, using chatbots, identifying and rewarding the most loyal customers with exclusive discounts and special offers can help brands boost retention as well as encourage new transactions.
Brands should reduce the number of checkout screens, provide a guest checkout option, offer multiple payment gateways, and make shipping and delivery costs transparent. Further, build customer profiles, take an omnichannel approach and personalise experiences.
[11 minute read]