Customer churn can become the number one killer of your company.
The best strategy to offset churn is customer success. It will increase your customer retention and expands the revenues you make with those who stay – they grow, you grow.
But what does customer success mean?
People often think customer success is when support representatives answer simple user questions while eating cereal behind their desks.
Instead, a real customer success team works proactively with customers over the entire customer lifetime to help them get more value out of your product.
Customer success anticipates your users' challenges and proactively provides solutions – it's a continuous lifecycle and helps you and your users improve simultaneously.
Here's how customer education can help you grow…
Your customers are more likely to actively use your product if they realize the amazing value it provides.
At Trana, we call that value - superpower.
Onboarding is one of the most vital things to guide your new customers towards that superpower. It's where your users get the first impression of your product and decide if they love it or not.
Almost a quarter of churned users come from a poor onboarding experience.
But those who understand your product's value right from the beginning are less likely to churn. Furthermore, a fantastic onboarding experience will not only retain more customers but also increase expansion revenues.
Especially if you run a SaaS business model, over time, your growth depends more on existing customers than new customers, and you want to increase that net dollar retention (NDR) to offset churn and support further growth.
Trana gives you the superpower to easily educate your customers, boost your growth and retain more users
Create an engaging onboarding experience your customers will enjoy using. Bring flow to your workspace and create training-methods that guide your users step-by-step using no-code at all. Then, share your onboarding course seamlessly within your application or website and offset that early customer churn right from the beginning.
Because acquiring new customers can be expensive, you want to keep them.
Besides, for example, a 5 % increase in customer retention can produce more than a 25 % increase in profit.
Building an academy where your active users will learn the ins and outs of your product will help you to retain those customers. They will become experts, and as such, they will derive the highest value your product has to offer.
By providing educational and engaging content, you build a solid relationship with them and increase your customers' loyalty. This will not only lead to a higher customer lifetime value (CLTV), it will also drive virality.
Experts will spread the word about the superpower they get from your product. A high net promoter score (NPS) will help you increase profits, growth and outperform your competition - loyal customers are the best marketing machinery you can get.
Many different strategies can accelerate your company's growth.
But what's interesting to us is that many SaaS unicorns have something in common - they offer educational content to their users.
No-Code website builder Webflow created an entire university around their product and enabling hundreds of thousands of users to build beautiful websites. In addition they offer a wide range of content to their customers. From beginner and 101 crash courses to advanced topics featured courses.
Webflow doubled its customer base only in 2020.
Wrike, a project management SaaS company, reduced its consulting teams’ time spent for basic product training by 70% by automating their onboarding process.
By building its business model around customer success, Shopify secured its growth machine.
The Shopify academy enables customers to become successful merchants with on-demand courses, live webinars, business tools, and templates.
They weren’t just offering a tool among many to sell online. Instead, Shopify created a community and an ecosystem with a developer community where everyone shares his knowledge.
Trana features to help you with customer education