The 3 principles of Customer Onboarding to skyrocket your business’s Lifetime Customer Value
While acquiring new customers is top of the mind of every business; it’s in extra efforts a business is willing to put in to retain customers that make the more distinctive difference in being a success and bring a runaway success.
Not really a need to explain but just to refresh, Customer Onboarding is the process of familiarizing a new customer with a company’s products or services. A customer chooses a company to fulfill a need; but if you let her stay there and don’t attempt to introduce your broader range of services and products; you’re losing out on precious revenue and a valuable believer in your company. No matter how much we embrace digital; word-of-mouth is still worth its weight in single-carat diamond when a recommendation comes from a deeply satisfied customer.
Here is a little validation of our assertion: One of the most respected consultancy firms, Bain & Company discovered that an increase of 5% in customer retention produces more than 25% increase in profits.
The secret to providing an effective customer onboarding experience is to first identify how to get a consumer to use the service more often, for longer or in a more profitable manner.
Keeping these 3 foremost principles in mind while you develop and initiate a customer onboarding process will ensure a smooth beginning and excellent engagement that’ll shoot up your Lifetime Customer Value to unimaginable heights:
- 1. Begin immediately. Onboarding a new customer should begin immediately to take advantage of initial euphoria. The more you wait, the lesser the chances of a customer sticking through for long.
- 2. Consider onboarding as a powerful platform to demonstrate your strengths and benefits to the customer.
- 3. Keep it simple. Customer Onboarding sounds complex but should never appear complicated- it is simply about ensuring finest experience for customers while they stay with you.
Wondering how customer service can be used as a priceless tool that leads to customer retention for life? As an outsourced customer service partner, we’re the often the first point of contact for a new customer, and our experience in intuitively understanding human needs and customer requirements makes us the perfect foil to your business in presenting your range of services in a positive yet non-intrusive manner. We’re also the first in the firing line when something goes wrong (as it often does) and the fire needs to be doused quickly and proficiently.