Poor or Inadequate Engagement

Customers want more than transactional relationships with brands, making customer engagement more important than ever. Engagement is the cornerstone of a strong brand and customer relationship. Consistent, meaningful engagement increases brand recall value and helps build emotional bonds that go beyond purchases. Lack of quality engagement can create a disconnect, encouraging customers to seek out more customer-centric brands.

Lack of Perceived Value

The price is what a customer pays. Value is what they get. Competition is tougher than ever, and customers expect value they can’t find anywhere else. According to sales expert and emotional intelligence coach Liz Wendling, customers don't necessarily choose the cheapest option. Customer preferences have nothing to do with price and everything to do with the value you are conveying. When your potential customers tell you it’s about the money, it’s actually code for “show me the value.”

Incomplete View of the Customer

Today it’s easier than ever to opt out to avoid receiving offers that have no relevance to your preferences, values, or lifestyle. And, we all know how frustrating it is to have to repeat ourselves when communicating across different staff members or platforms to remind a brand of who we are and how long we’ve been doing business with them. Consumers have overwhelming options at their fingertips and will quickly switch when it’s clear you don’t know them.

Inconsistency

Consistency breeds trust. Consumers want to rely on a seamless, relevant experience no matter where or how they engage with your brand. If their online or mobile experience is miles apart from their in-store experience, it undermines that trust and confidence.

Dissatisfying Customer Experience

According to PricewaterhouseCoopers (PwC), 73% of customers agree that customer experience helps drive their buying decision, which is why more and more businesses are investing in CX. In fact, Forbes reports two-thirds of companies compete based on customer experience.

73% Customers agree that Customer experience helps drive their buying decision

Why Customers Leave a Company

Customer believes you don’t care about them

68% 68%

Customer is dissatisfied with your service

14% 14%

Customer persuaded to go to a competitor

9% 9%

Customer gets a friend to provide a service

5% 5%

Customer moves away

3% 3%

Customer dies

1% 1%

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