There’s a threefold challenge that stands to impact your ability to retain your customers. Customer expectations are rising, customers are more readily sharing their bad experiences publicly and customers are switching their suppliers at a dramatically increased pace.
The rise of social media and social customers now reward those brands that engage customers through social channels and deliver a consistent and rewarding customer experience (CX). Or on the flipside, suppliers which do not deliver rewarding customer experiences are being called out publicly in forums and social networks that reach thousands or millions of potential or existing customers and have a duration of months, years or longer. If a vendor’s products are chastised by existing customers, new prospects will clearly seek competitor solutions and existing customers will take note, thereby increasing their likelihood of churn.