Recently I authored an online survey in collaboration with Thought Industries’ CEO, Barry Kelly to determine the present state of customer learning. If you work for a product company, customer learning is a must! Not only does the company create a closer relationship with its customers, but customers remain more loyal since the company is helping them be more successful with the product(s) they purchased, which often leads to repeat purchases, upselling, and more success in a competitive market. I don’t mean training on the basics of how to use the product or online help resources and videos. They are essential but I’m referring to more in-depth learning opportunities to help customers get more value, see additional ways of using the product, develop a partnership with you as the vendor, and help the company incubate ideas for future product development.
Here are some of the survey data results around what’s happening today, the challenges, and the benefits:
In the past 5 years, how has the amount of customer training or company provides changed?
When asked if customer training had increased in the past five years, 76% said it had increased or significantly increased. Companies see the value of investing in their customers to reduce churn.
What are our biggest challenges for customer training?
At 53%, customer onboarding is the largest challenge companies face while creating their customer training program. It’s important that they get this right, . . . the faster a customer sees value in a product (time to value) the more likely they will be a long-time customer. The ability for companies to retain customers is critical since it has massive implications on revenue, profit and company reputation.
What are the biggest benefits you get from training your customers?
The top benefits of customer training all revolve around achieving loyal customers, since this translates into increased company revenue. 61% of respondents said that with training, customers use more of the company product and its features; 50% of respondents said training enabled a stronger partnership with customers; and 45% said customer training reduced customer churn. These results alone should drive companies to research, plan, and develop stronger customer learning experiences.
For the complete survey results and analysis, see 2019 Customer Training Trends Report:An Industry Growing Rapidly, But Still Evolving