What is customer attrition ? Commonly referred to as customer churn and it’s the rate at which a business is not able to have repeat customers. It is one of the worst things that can happen to a business since it’s also an indicator of business growth and relevance in that it’s meeting customer needs.
A few factors cause this and some are inevitable, hence customer attrition can only be minimized. Having poor customer service can grossly affect your business. When the customer service is excellent, looking for a new experience will be inconveniencing for the customer than remaining with you.
Customer leave whenever they feel like there’s a change is your product or service. Customer retention is harder than acquiring new ones, repeat customers already have expectations of the quality of service they get. Consequently, it’s important that you keep your communication channels open to gather feedback and manage any bad customer experiences. Excellent customer service comes with more other benefits like mouth-to -mouth referrals, reviews and testimonials. Creating a culture of rewarding your existing customers goes a long way in making them feel appreciated.
Keeping up with changes in the market trends enables you to keep adding value to your services or products and communicating these advancements to your customers way in advance to make it hard for them to switch brands. It is customer experience that provides convenience for customers to remain with you. How effortlessly a customer is attended to communicates how well your brand is packaged. Research shows that 85% of customers choose a particular brand due to convenience. Price convenience, timely delivery, prompt response, quality convenience. All this packages, boils down to customer service.