STRATEGY TO RETAIN CUSTOMERS FOR THE DIGITAL SERVICE OF BILL PAYMENTS IN INDONESIA: CASE OF BILLSXYZ
In Indonesia's growing digital economy, many online services compete for customers, including bill payment platforms. BillsXYZ is one such platform, its name changed in this study to keep it anonymous. With fierce competition and easy platform switching, BillsXYZ faces a high churn rate, a comm...
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| Format: | Theses |
| Language: | Indonesia |
| Online Access: | https://digilib.itb.ac.id/gdl/view/77206 |
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| Institution: | Institut Teknologi Bandung |
| Language: | Indonesia |
| Summary: | In Indonesia's growing digital economy, many online services compete for customers, including bill payment platforms. BillsXYZ is one such platform, its name changed in this study to keep it anonymous. With fierce competition and easy platform switching, BillsXYZ faces a high churn rate, a common issue in this industry. This research set out with the goal to understand the factors influencing customers' decision to discontinue using BillsXYZ and propose strategies that could enhance customer retention. To better understand the business situation, an external environment analysis employing Porter's Five Forces and an internal assessment using VRIO Analysis were conducted. The methodology encompassed the application of the Theory of Planned Behavior (TPB) to construct the conceptual framework. This framework encapsulates key components such as customer satisfaction, service quality, pricing, promotions, social influence, brand image, ease of use, and the features of the service. The study engaged 110 survey participants and conducted four in-depth interviews with users who had stopped using BillsXYZ. Findings revealed moderate user satisfaction with BillsXYZ and areas requiring improvement, such as payment failures, unavailability of some payment methods, and insufficient awareness of new features or billers. Recommendations for BillsXYZ were offered, including enhanced branding, social engagement, feature awareness, service quality, usability, and promotion strategies. Finally, an implementation plan prioritizing system reliability and feature improvements was proposed. This research serves as a valuable guide for online bill payment services to improve customer retention. Future research could explore the long-term effects of these strategies on customer loyalty.
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