The Keys to Customer Onboarding-- What You Need to Know

The Keys to Customer Onboardino WHAT YOU NEED TO KNOW Customer retention is heavily dependent upon successful onboarding. In this infographic we explain how to foster customer loyalty by accelerating time to first value. Onboarding 101 CUSTOMER ONBOARDING is a process aimed to 24 Operationalize a Provide First Value business's offerings the first measurable business FIRST VALUE value or outcome Onboarding dictates that PREDETERMINED MILESTONES ULTIMATE GOAL are established and met on-time. Foster customer loyalty early in the relationship. 1 Implementation 2 Provisioning 3 Training INCREASE TRIAL CONVERSION RATES: Turn trial or freemium subscriptions into 4 Change management paying customers. When to Act HOW DO YOU KNOW WHEN IT'S TIME TO CHANGE? HIGH... Churn rates Ineffective or inefficient customer Customer support cases onboarding results in a rising CHURN RATE. Involvement from customer service teams percentage of subscribers that discontinue their subscription. CHURN RATE Cost-to-serve or cost-of-sale LOW... If a user doesn't become loyal within the first 90 DAYS, there is only a Trial or freemium conversion rates 10% CHANCE THAT IT WILL EVER HAPPEN. Must-Do's 86% ONLY 1% feel that vendors consistently meet their expectations. of buyers will pay more for a better customer experience 5 CUSTOMER ONBOARDING MUSTS ANALYZE DATA TO IDENTIFY > Outline how your customers achieve business outcomes > Map out customer onboarding milestones > Usage thresholds > Become data-driven to monitor key milestones > Loyalty indicators D Proactively manage exceptions > At-risk behaviors The Customer Outlook Create a comprehensive picture of your customer ... DCRM data CRM DCustomer Usage Behavior DCustomer Experience Milestones THE OUTLOOK The customer journey The return on investment (ROI) Getting the Results Focusing the customer onboarding experience on accelerating TIME TO VALUE creates satisfied customers The time it takes a customer to realize the TIME TO VALUE value proposition of product or service. Customer Onboarding KPIS Number of activated users 100 Activation Rate Total users Onboarded Customers onboarded on-time 100 On-time Rate Total onboarded customers Optimal Higher trial Knowledgeable Results conversion rates customers Lower Higher Increased customer cost-to-serve renewal rates lifetime value Service Søurce Sources: http://www.servicesource.com/blog/how-to-create-a-value-centric-customer-onboarding-experience http://www.servicesource.com/blog/how-to-avoid-squandering-most-critical-days-customer-success Webinar On Demand: Top 5 Strategies to Avoid First Year Customer Churn-ServiceSource https://ariegoldshlager.wordpress.com/ http://www.business2community.com/brandviews/teamsupport/customer-onboarding-essential-saas-01396248#2DIM4YJmLGe3doqA.97 http://www.pbinsight.com/files/resource-library/resource-files/pbbi-next-gen-cust-onboarding.pdf http://sixteenventures.com/customer-onboarding http://blog.servicerocket.com/learndot/how-to-train-your-customers-to-reach-first-value-asap http://www.service source.com/blog/right-customer-lifecycle-kpis-series-part-2-make-first-90-days-count-with-onboarding-and-adoption-kpis 15 Essential KPIS of the Revenue Lifecycle by Andrew Statton and Vijai Balachandra http://www.forbes.com/sites/christinecrandell/2013/01/21/customer-experience-is-it-the-chicken-or-egg/#26eea40e5d83