Today’s company-customer relationship no longer revolves around one-off purchases of goods and services. We live in a subscription-based world where companies give their customers the flexibility of multiple pay options that best fit their needs. This model rewards companies who prioritize delighting their customers with stellar products, services and support. Benefits include predictable revenue streams, repeat purchasers and word of mouth growth driven by customer referrals.
Yet, with its ease of use, low up-front costs and low setup efforts, it has become exceedingly easy for customers to cancel, downgrade or switch to a competitor via a few clicks.
The result? Immense churn and attrition.
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