Simply put, dissatisfied customers churn. Of course, the root of their unhappiness is caused by different factors, but customers who are no longer happy with an aspect of your product or service simply tend to leave—without saying goodbye or why.
One certain factor is your customer service. A PwC survey found that one negative experience can sour a great customer relationship. Research from Zendesk supports this, finding that half of consumers will actually switch to a competitor after one bad experience. It’s not enough to have a good product or service— the post-purchase relationship is vital to keeping customers happy.
And the other factors may be staring you in the face—without you knowing it. For example, you might be attracting the wrong customers who quickly discover your product or service isn’t for them. If your messaging isn’t clear and focuses too much on the wonderful features of your product or service rather than addressing what your customers need or want, that’s where you can address the problem.
Also, according to Retention Science (ReSci), lack of value is another top reason customers churn. And that doesn’t come down to how much something costs. In fact, 55 percent of consumers say they would actually pay more for better service and understanding what services they value the most is key to high customer satisfaction.