By Andy Mahood, Taskfeed
Whether you are a platform, product, services, marketplace or similar business, chances are you will be operating on the Customer Success model. Part of this model is Customer Onboarding.
Onboarding is the first stage of the post-sale customer lifecycle. Your customer’s onboarding journey can predict the kind of relationship they will have with your business going forward. A poor customer onboarding experience can dramatically decrease their likelihood to renew within the first year. By contrast, when you implement a successful, scalable onboarding process, it leads to happy customers, increased satisfaction, higher retention and upsell - all of which are critical to a recurring revenue business.
Lincoln Murphy of Sixteen Ventures and author of “Customer Success: How Innovative Companies Are Reducing Churn and Growing Recurring Revenue” uses the phrase “The Seeds of Churn are Planted Early”. Lincoln asserts...
“Customers rarely wake up one morning and decide to leave you… In fact, chances are the seeds of their churn were planted before they were even a customer.”.
Lincoln explains that often the customer is just the wrong customer, or their expectations were not aligned with what the solution can deliver. It is usually during the implementation where this becomes clear.
In the same way that “The Seeds of Churn are Planted Early” it is also at this early stage of the customer journey that you have the most influence over their long term success. Delivering an excellent onboarding experience will improve a customer's long-term prospects and set them off on a path for success.