Looking at customer experience (CX) and churn in the SaaS environment from a high level, there’s one theme that stands out from the mix: The fact that we live in what’s called a “switching economy.” The term, coined by economists, describes a current trend impacting switching brands because of dissatisfaction with their experience. It can be a major driver of customer churn—and it’s already creating an incredible economic deficit in the US.
Early reports indicate that more than $1.6 trillion in revenue is up for grabs as “always on” consumers look for brands mastering CX via various channels and touchpoints. What’s more: since 2010, Accenture data shows the switching economy has increased more than 29%—and only 11% of U.S. customers strongly agree that companies are effectively converging their omnichannel experiences. So, what’s driving the switching economy? And how can businesses win back customer loyalty?
https://www.business2community.com/strategy/acing-omnichannel-support-in-saas-02098386/
Several major market changes have made waves throughout the retail industry in just the past few years. The proliferation of mobile devices, Amazon’s meteoric rise to the top of e-commerce, and the emergence of omnichannel strategies have all fundamentally changed how retailers compete.
Shoppers today expect browsing and purchasing to be consistent and seamless, no matter where their experiences take place. Omnichannel, especially, has transformed retail and improved what consumers consider to be a quality user experience.
While building an effective omnichannel strategy is not easy, retailers can avoid mistakes and create best-in-class omnichannel experiences by following these five lessons:
https://www.destinationcrm.com/Articles/ReadArticle.aspx?ArticleID=126962/
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