Alleviating High Customer Churn Rates in Bank Branches

Why Are Customers Abandoning Queues in Bank Branches? A Wavetec Report

Customer churn rate is the rate at which customers visiting your business abandon their basket or the queue. Long waits, tedious queues and misplaced customer expectations are leading causes for high customer churn rates in bank branches.

Customer churn rate has a direct impact on the following:

  • Customer satisfaction 
  • Business success, profits and client retention 
  • Key Performance Indicators (KPIs)
  • Net Promoter Scores (NPS)

Dictated by customer behaviour, this metric of onboarding success is essential to measure as an indicator of visitor experience management. This report will address:

  • The reasons for high churn rates in banks, 
  • How these can be remedied,
  • And why it is important to regularly measure and address it. 

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