The REAL Reason You Are LOSING Customers! Price vs Product
In this episode of the Building Great Tech podcast, hosts Simon Hook and Anastasija Krysa delve into the critical issue of customer churn, exploring whether pricing or product experience plays a more significant role in driving customers away. Drawing on insights from PwC research, they discuss how businesses often misattribute churn to pricing issues, overlooking the impact of customer experience. Simon and Anastasija share compelling statistics, real-world examples, and practical strategies to help listeners identify the true causes of churn. They also provide a framework for assessing product experience versus pricing, encouraging businesses to focus on delivering exceptional customer experiences to justify their pricing. Tune in for valuable insights that could transform your approach to customer retention! Simon highlights that 86% of buyers are willing to pay more for a great customer experience, emphasising the direct link between product experience and pricing strategies. Anastasija discusses the importance of understanding customer feedback, noting that many customers use price as a socially acceptable reason to leave, masking deeper issues related to product experience. Simon and Anastasija conclude that successful companies optimise product experience to justify pricing, urging listeners to focus on behavioural analysis rather than assumptions to identify real issues affecting customer churn. Follow us on Linkedin! https://www.linkedin.com/in/anastasijakrysa/ https://www.linkedin.com/in/simonvhook/ Building Great Tech is the podcast that helps mission-driven tech businesses become more profitable and customer-focused. Whether you're just starting out or optimising what you’ve already built, each episode helps you drive conversion, retention, and real business growth. We dive into customer-focused strategies, killer product experiences, ethical tech, team dynamics, and smart roadmaps. Expect expert interviews, startup case studies, and practical advice to help make your tech profitable, scalable, and deeply aligned with your mission. Build better tech. Serve more customers. Scale with purpose.