ABOUT ROSE-TINTED SPECTACLES
Today, thanks to digitalisation, a lot more can be done to significantly optimise digital and analogical customer contact at all the relevant customer touchpoints. Many options are subject to current trends, and therefore rapidly cease to set companies apart from the competition. Other options use up too many resources for smaller retailers and service providers, or require high initial investments from larger providers.
All these factors limit the long-term effectiveness of measures to optimize customer retention. Particularly in times when all providers are confronted with a range of major challenges.
With Paycoaching, Paycoach gives retailers and service providers the chance to set themselves apart at one particular stage of the trading process. It allows them to surprise their customers and firmly establish their company and products with the customers, ensuring retention.
Paycoaching comes into play whenever a purchase is broken off during the payment process. Perhaps the digital processes have been interrupted and the customer feels irritated by the payment process due to the negligent service provided. Alternatively, the customer may be experiencing financial difficulties or may have simply miscalculated just this once. Or perhaps a customer really does have problems and is in need of a solution.
Customer retention is at its most effective whenever things are not going quite so well. Paycoaching calms the feelings of irritation that arise during the payment process, and manages to use them to achieve new customer retention for the retailer. To do so, Paycoaching itself has an extremely digital structure.
Paycoaching establishes trust between partners in a specific situation where it has the strongest and most sustainable effect. When the customer feels irritated, be it for digital or analogical reasons. A customer who has experienced Paycoaching before, and who has been helped through a payment difficulty in the past, visits competitors most less frequently for future purchases because the trust that has been created, or even re-established, is worth more than any other aspects of customer retention.
At this point, you might object that the customer retention is not being done in the right place. But that is simply another pair of Kästner’s spectacles altering the picture. These customers are very consumption-oriented and spill over into other customer groups thanks to the Paycoaching story they have experienced. These other groups have never experienced Paycoaching themselves, but can be sure that any payment problems will be handled and resolved with trust.
Anybody who uses Paycoaching in their business can then put on their rose-tinted spectacles a little more frequently and feel comfortable in their new customer retention world. Thanks to Paycoach, the customer retention world itself becomes rosier. The optical illusion comes closer to reality, both for the customer and for the company. Even if Erich Kästner takes off your rose-tinted spectacles every now and again.