Giving customers a remarkable experience when interacting with your business is one of the most critical factors to the sustained success of that business. Customers are guaranteed to return when they have a positive experience, leading to loyalty, customer retention and brand advocacy.
A negative customer experience does the opposite; it leads to loss of customers and affects the reputation of any business. A PwC poll revealed that it takes just one negative experience for one in three customers to leave a brand they love. 73% of the poll point to customer experience as an essential factor in their purchasing decision.
In today’s digital and social world, customers have enormous power to sell or do reputational damage to businesses with their experiences. This power is why brands must care about customer experience.
Customer experience is a broad term, but it simply means the sum of a customer’s perceptions and feelings after interacting with a brand’s product and services.
For online businesses, customers perceive a brand at different touch points during the shopping journey, including payment. As businesses intend to make revenue, payments are the most frequent touch points between businesses and customers. Payment has become an important touchpoint in customers’ online shopping journey, which is why customer experience is driving the future of payments.
For online businesses, it doesn’t just end with a user-friendly website and a fantastic product; in these times, a poor payment experience is enough of a negative experience for customers. Businesses that understand this are making sure they follow payment trends that optimise the experience for customers.
These are five payment tips to optimise customer experience