How to reduce customer churn rate in digital environments

Building compelling products has never been more challenging, especially as product managers are busy understanding how to reduce customer frustration. Expectations for consumer-friendly products are on the rise, especially as the first digital generation will be the largest online population.

With this in mind, product managers should design stellar user travel with a focus on providing the best user experience. Lifetime value plays an important role, especially in SaaS models, and user noise is the first metric analyzed.

Client noise comes from a variety of touch points – some of which are realistic and easy to track and predict; Others – although strong and influential, are often invisible to product managers.

By focusing on this blog post, we will explore strategies on how to reduce customer noise:

Behavior of Digital Natives and Product Promises

Jane Z, born in the late 2000s, was the first digital generation to use technology and the Internet to learn, explore, communicate and enrich. It accounts for 32 percent of the world’s population and has more than $ 143 billion in purchasing power.

It was the cultural and social background that enabled Jane Z’s unique lightning to grow using fast internet connections and supercomputers, the only mobile-first and smartest feature of technology used at an early age.

With this in mind, Millennium and Jane Z could be lost on any production trip that does not meet expectations, such as fast, seamless, user-friendly, natural or biometric-oriented.

Jane Z and thousands of years are ready for a new kind of production experience

Recent studies have shown how times have changed and the adoption of advanced technologies is no longer a matter of user adoption. On the contrary, millennials and teens choose biometrics when it comes to certification. According to a visa survey, 72% of respondents are interested in using biometrics to verify their identity or to make payments.

Since most IT departments are actively evaluating biometrics, 82% of consumers are expected to create at least one basic biometric approach as an introduction solution.

What is a customer noise?

Customer noise is a term used to describe customer or customer losses. Frequent customers are real business drivers and sales pitches are very important. Remember, it is 5 to 25 times more likely to find a new customer than to have a new customer.

Customer noise analysis

Assign your voice before jumping into your next reduction reduction strategy. Pre-level noise users download in the first few weeks after purchase. Screaming also varies in purpose.

  • Indifferent or passive shouting

It looks at poor passenger experiences, payment methods, ineffective loyalty and retention programs, missing customer success components, or simple activity related to static content around your product.

Examples of how to perform a client breath analysis
  • Voluntarily, active shouting

When users choose to cancel their subscription or stop using your services due to problems with the on-board completion or failure, product adoption issues – problems with learning advanced features, or frustrations with customer success representatives.

The stellar user experience is key to maximizing customer lifetime value

Building a digital product narrative focused on user experience is key to business success. Product managers are on the hunt for the latest technology trends that consumers perceive as value-added and time-saving.

Focus on providing the best user-experience

Customer experience is defined as user perception associated with a product or service. These touch points on the product journey are the key to keeping or separating the user. Therefore, facilitating every interaction with you / your product is critical to business success.

Benefits come from a good user experience. In fact, 73% of consumers translate good user experience into product loyalty, and positive product experience is more influential than advertising by 65% ​​of users.

Reduce stress with enhanced UX and increase the customer’s lifetime value

UX data to consider when designing breathing reduction strategies

  • Highly engaged customers buy 90% more often, spend 60% more on one transaction, and triple the annual value compared to other customers. (Rosetta)
  • 66% of adults believe that time management is the most important thing a company can do to provide a good online customer experience. (Forster)
  • 74% of people will revisit your website if it is user-friendly, otherwise 50% of customers will stop visiting. (Think of Google)
  • Customer-driven businesses have about twice the annual growth rate of customer retention, purchase rates, and customer lifetime value. (Forrest and Adobe)

Reduce the noise of a pre-stage customer on a flawless deck

An effective shipping process facilitates good customer retention by explaining product benefits and how your customers can meet and respond to their needs.

This first product contact is crucial because it serves users as a level of knowledge about how to use your product.

User experience gained from ease of use and easy-to-understand travel will have a significant impact on overall mediation rates. Product managers should also focus on verification experience at this stage, which is a key part of the shipping process. If you are unsure about the importance of a great cruise, remember:

More than 90% Customers feel that they can do better when they bring in new users or customers.

Offer flawless cruise with user-friendly verification

  1. Secure data and accounts

Data breaches have increased with 100% Joy growth, and users are paying more attention to how their data is handled. An increasing number of users are victims of cyber security incidents, so they pay more attention to account security and data protection. This is the first step in building trust for your users, especially since three-quarters of American adults know how to sign up.

  1. Optimize in-app verification

Avoid sending your users to external services for verification. In this way, users have a safer option in a band that requires fewer actions. Pay attention to KYC and AML requirements if your company is required to comply with financial regulations. Also, keep in mind that 40-60% of software users will open an app once and never log in again. It is important to keep your application as easy as possible to maintain low flexibility.

Simplify the customer reduction rate with user central verification
  1. Make biometrics quick and easy by typing

Easy-to-use products come with a proven track record of user effort and conflict resolution. However, increasing the login time when you use it outside of the band’s reasons, such as SMS OTP or Authentication Apps, will slow down your users’ speed.

Instead, when the GMS service is not available and no special sensors or devices are needed, even typing biometric-based solutions can only be used on their keyboard. In addition, 2FA measures can be implemented depending on the level of security, and biometric typing can be very well integrated with SMS or Email OTP. And, 72% of security leaders consider biometrics more user-friendly than passwords.

Reduce customer noise with user-centered authentication using TypingDNA Verify

TypingDNA authentication is a 2FA authentication solution by replacing SMS OTP codes with better UX. By typing only 4 words, users can verify account security with little effort and conflict while improving account security. TypingDNA Verify uses a new type of biometrics to identify users with their unique typing patterns, more affordable, user-friendly authentication and behavior analysis solutions.

How TypingDNA authentication can help to reduce customer noise caused by bad UX

With TypingDNA authentication, the first user touch points make it easy to integrate into any user-friendly journey by creating a seamless authentication process.

Are you always a product manager to take care of and maintain user adoption? TypingDNA authentication helps you avoid authentication-related rotation to ensure you avoid conflicts from the first user touch point.

You can now focus on value-added product features and ensure a flawless verification process.

By verifying TypingDNA you will do the following

Reduce user effort and conflict over authentication

No second device, sign in to email or answer security questions. Users can verify by typing a few words before leaving the browser or waiting to receive SMS OTP codes.

Use SMS codes as a RoT, not a verification

High-frequency authentication needs are handled by sending SMS 2FA codes only as a smart RoT.

Prevent customer noise in real time with TypingDNA authentication

Apply wisdom verification engine mode

TypingDNA Verify uses proprietary biometric verification technology in conjunction with keyword selection, enabling high correlation accuracy in very short texts.

Increase account protection with 2FA

A.D. Be sure to avoid account control as more than 16 billion identities have been stolen around the world by 2020.

Minimize SMS costs

SMS codes are only sent when users are registered in the system, unable to verify or pass our verification. This keeps SMS costs low, approximately 10% or less.

Grid-rate-conflict-free-user-authentication reduction
Check for HIV-based solution confirmation

The post first appeared on the TIPDNA blog on how to reduce customer noise with user-based verification.

*** This is an integrated blog from a network of security bloggers from TypingDNA Blog, written by Silvana Chirita. Read the original post at https://blog.typingdna.com/reduce-customer-churn-with-user-centric-authentication/