How The Digital Journey of Customers is Costing Startups Money
A lot of startups face high churn rates that are mostly caused by dissatisfaction during the on-boarding process. Unlike brick and mortar stores where the products are available in the display areas and it is easy for customers to pick what they want, online businesses have a whole different ball game.
Integral to making these customers from leaving as soon as the subscribe or sign up is making sure that the process you take them through from the moment they sign up to when they achieve a positive outcome with your product is as streamlined as possible. The goal of the startup needs to be based along the lines of helping customers achieve their best desired outcome; unfortunately a lot of customers won’t be happily patient if you take forever to get them to that point. Startups must strike the rod while it’s hot.
How is your startup losing money through the digital journey that they take customers through?
a) Lacking a concrete digital strategy
Do you know the best way your customers can reach each level in your on-boarding funnel? If you don’t, they won’t know either. If you expose customers to a journey that is not concrete, they are going to be complaining of bad customer experience, and even more abandoning their carts before they purchase or requesting refunds right after they have purchased.
The journey between one level to another needs to be smooth and swift. Simplicity wins it here. A lot of customers will absolutely avoid any complex processes.
b) Collecting wrong data from your tools
If you run an online business, you will know that there is no way to survive in an online business without the data provided by the various analytics tools online. From traffic stats to most visited pages, most clicked buttons, etc, these tools are all piling information upon information. All you need to do is analyse the data, find specific metrics and messages from the data, then act upon it to drive growth for your company. Customers leave feedback directly or indirectly on these tools.
c) Hard to find information
As you design your website, do you consider the customer in mind? If you do, you will put all the required information where it can easily be found. Be it a mobile app or a web application, the data needs to be easily reachable. A lot of customer support emails have been seeing to actually emanate from poor arrangement of information on the site. Ensure that every information that might be required by a customer is easy to find: from FAQs to benefits and features.
What are some other ways you think startups are losing money due to a poorly done digital journey?