THE IMPORTANCE OF CUSTOMER ONBOARDING IN A DIGITAL WORLD
The onboarding stage is critical for retention because it's when customers first experience your product or service.
Customers have changed the way they research, interact with, and buy from companies. Managing customer journeys for retention and renewal is more essential than ever and it’s never been more important to provide a differentiated customer onboarding experience with added value in order to stand out in this fast changing environment.
Customer Retention Starts with Onboarding
Some people think the most important moment in the customer relationship is when they make the initial decision to purchase. But customer retention starts at your first interaction with a customer. Successful onboarding ensures that your customer will actually engage with your product or service, and that they’re empowered to find repeatable value - the onboarding phase, is what really establishes the customer relationship.
The onboarding stage is critical for retention because it’s when customers first experience your product.
First impressions really count and a customer will learn quickly if you live up to your brand promises and their expectations and you can guarantee they’ll form an opinion quickly!
Help them realise value sooner rather than later by guiding them through the onboarding process to learn to use all of your product’s features in a way that underpins the motivation for choosing you over your competitors in the first place.
We all know it takes great time and effort to attract a new customer or employee, whatever the industry vertical, not only in sales and marketing investment but also resource, so it’s imperative that once they onboard, the same time and effort is matched to deliver a great experience, nurture their first steps and help guide them through the onboarding process.
What your organization does next could mean the difference between having a life-long customer or another churn statistic.
Poor onboarding creates unhappy, frustrated customers who are unlikely to renew. These customers in today’s digital social environment are likely to tell others about their disappointing experience, spreading bad word-of-mouth about your brand.
Common universal onboarding challenges
- If a customer does not receive proper education on how to use a feature, they may not fully understand the product. As such, the customer may never really get the value they want.
- Onboarding takes too long. Customers want a quick time to value. If onboarding drags on and your customers aren't getting the support they need, chances are they will give up.
- Onboarding is about welcoming a new customer to your brand, establishing a good relationship with them, and helping them understand the product or service so that they can see the value of their purchase. Personalising and tailoring the onboarding process accordingly can make all the difference to their experience.
Whether it’s a new insurance policy – life, building, content or animal, a mortgage, bank account, credit card, new employee, new student, new gym member, new club member, new supermarket online shopper, a new mobile phone contract, a new holiday booking, a new subscriber, new utility customer…. the list is endless - the one commonality across all verticals is that that every customer will require onboarding and the way in which that experience is delivered will pave the way to build a positive continued relationship to optimise retention, build loyalty and ultimately fuel business growth.
So how can you create a differentiated onboarding experience that delights?
Adding highly personalised and interactive video to your onboarding, (or indeed any and every point within the customer journey) enables you to create a memorable 1:1 personal and humanised connection and provide an onboarding experience that exceeds expectations and delights customers whilst helping to guide them through the onboarding process quickly with no hiccups (and less calls to the call centre) automated and at scale.
Bringing together the three most powerful factors in digital marketing today – video, data and customised content allows you to take your digital communication to the next level, empowering you to provide personalised, more human digital experience across the onboarding process and every touchpoint throughout the customer journey and full customer lifecycle.
Proven Onboarding Success
Establishing a strong, engaging, personalised 1:1 onboarding process delivers many benefits not only to your customer but to your business too:-
- 38% reduction in call centre traffic
- Reduced customer attrition
- Personalised video generates 5X more views than generic messages
- Improves NPS score
- Improves CSAT score
- Increases customer lifetime value
- Increases Revenue and Business Growth
It has never been so important for businesses and brands to deliver outstanding onboarding experiences that add greater value, build a meaningful connection and leave a great impression on customers for years to come. Providing a differentiated human customer experience is paramount and will assist the business to reduce attrition, build loyalty and ultimately fuel business growth.