NEW: Insiders Tip to Buy the right LMS

X

Reduce Churn Using SaaS Customer Training Platform

SaaS Customer Training Platform – Prevent Customer Churn

Every year, the average SaaS company changes about 30% of its tech stack, ensuring that some customers leave software-as-a-service (SaaS) companies. As a result, customer churn rates for early-stage companies may be significantly higher, as high as 15% or more. However, customer attrition usually decreases once the company optimizes its product, marketing, and user experience.

Assume that a company has been in operation for several years and still has an annual customer churn rate of more than 10% or a monthly churn rate of more than 5%. There are serious customer retention issues that must be identified and addressed to prevent customer churn.

Why does Churn happen?

  1. Admin or power users may change, new power users may not know how to use your platform.
  2. Power users may not have time to train end-users.
  3. The production company may not have the resources and skills to build proper training and run it.

4 roadblocks stand in your way of getting the most out of your SaaS applications

  • Learning curves

    Even if they are fully aware of the product’s capabilities, some employees may avoid using it due to the steep learning curve. Without proper SaaS customer training platform, the time it takes to learn how to use a new feature may seem overwhelming. Some people may prefer to use a different program or work by hand.

  • Lack of training

    A complicated SaaS product is rarely user-friendly. As a result, it might be necessary to obtain SaaS certification and training. Unfortunately, because so few SaaS providers provide such training, many users are left in the dark. Because most users cannot afford to read lengthy manuals, they are left without a comprehensive way to learn how to use a product.

  • Inaccessible Content

    Most SaaS users don’t learn to use all of the features because they are unaware of them. They buy a product solely to use its key features and ignore everything else it offers. This is where the role of the SaaS customer training platform helps train and educate the customers about the features, benefits, and other necessary details.

  • Inadequate Knowledge

    Inadequate knowledge about the product is a deterrent to using the SaaS product to its full potential. This deprives your customers of the benefit of maximizing their ROI from your SaaS product, and in the long run, you have customer churn. A SaaS customer training platform can act as a knowledge base and cost-effectively enrich the knowledge of your SaaS customers.

How to reduce SaaS churn?

Your SaaS customers are likely to stay with you for a longer time if you provide them with effective onboarding and ongoing customer success options. Onboarding a customer and achieving their first success with your product are two of the most critical milestones in the customer lifecycle.

Unfortunately, you will get a hefty dose of your churn between these two points. While successfully onboarding your SaaS subscribers is critical, anything that jeopardizes customer success will undoubtedly lead to churn. One proven way to minimize customer churn is to train and educate customers about the products and their essential features using a SaaS customer training platform.

Customer Training Is Crucial to Onboarding and Maintaining Success

It is impossible to overstate the importance of providing thorough customer training during onboarding. If you master it, new customers will be far more likely to rely on your services and remain loyal to you.

To improve the quality of your onboarding process, consider what makes a successful new customer path. In some cases, video conferences, tutorials, and even “canned” training sessions may be the best way to handle onboarding.

If your software is a complex platform that requires hands-on learning, you should consider implementing a virtual instructor-led training (VILT) solution. A VILT could be the most efficient way to multiple onboard users simultaneously, especially if they’re dispersed across various locations.

Of course, ongoing customer success is essential to achieving long-term retention and, as a result, helping your business grow at a faster rate. Your emphasis on customer satisfaction should help you cultivate loyal customers who will renew their subscriptions, possibly buy more in the future, and refer new customers.

Once again, training programs offered in various formats to suit the needs of multiple types of customers and partners can be critical to your success.

7 Advantages of SaaS Customer Training Platform

SaaS training and certification can help users and businesses solve various problems. In addition, extra knowledge beyond intuitive use can help save time and money while increasing SaaS ROI.

  • 1. Become an expert on applications

    Taking advantage of SaaS app training can assist you in learning all of the product’s features. In addition, it can help users avoid wasting money on other SaaS apps. In the meantime, a business can better understand customer behavior.

    Learning how to use all available features while discovering new ones can significantly improve user satisfaction and lower customer churn.

  • 2. Enhances credibility

    Users are more likely to become brand ambassadors if they receive official SaaS certifications. In addition, official certification enhances the credibility of the certificate holder and, by extension, the app.

    By providing training, the company establishes itself as a reputable SaaS product provider committed to the app’s and users’ success.

  • 3. Compliance Vigilance

    Some industries require data security compliance when using the app. Formal SaaS training and certification ensure that you are fully aware of and capable of meeting all compliance requirements.

  • 4. Creates a user network

    Your user network will grow and be strengthened due to online communities and in-person training. This improves your company’s credibility, allows you to develop new product features based on customer reviews, turns customers into brand promoters, and more.

    A large user base can put you on par with well-known SaaS companies like Adobe, Dropbox, and HubSpot.

  • 5. Keeps information secure

    SaaS certification and training can assist you in learning about the many security features available in SaaS products. In addition, it may enable you to fully utilize the app’s features without worrying about security concerns.

    You can also begin controlling access to ensure that only the appropriate employees have access to specific software.

  • 6. Lowers the rate of customer churn

    Users are less likely to abandon a SaaS product if they understand how to get the most out of it. Failure to achieve the desired result is one of the leading causes of customer churn.

    By allowing clients to explore the product’s full functionality, you are assisting them in achieving their objectives and thus keeping them on board.

  • 7. Mitigates unnecessary expenditure

    SaaS customer training platform can save money for users. However, it’s easy to give up and switch to another product if you can’t use the full SaaS app functionality or can’t exploit the necessary features.

    Employees eventually end up using dozens of SaaS apps at the same time. This adds to the company’s expenses, slows down operations, and reduces revenue.

What can you do to assist customers in getting over their stumbling blocks?

It’s critical to get involved if you want to help customers get the most out of your SaaS product and reduce churn.

  • 1. Have videos and documentation for tutorials

    • You must create tutorial documentation regardless of the complexity of your SaaS product. Even if the customer does not read the entire manual the first time, they can refer to it later.
    • Videos are an extremely effective way to convey information. Therefore, many users nowadays expect video tutorials because they are easier to understand.
  • 2. Increase your onboarding efforts

    • Spend more time and effort on onboarding. The first few days following your purchase are crucial to the success of your collaboration.
    • Contact the customer within 24 hours of the purchase and maintain the relationship.
  • 3. Keep track of where users get stuck

    • You can identify points where users become stuck by tracking SaaS metrics and feedback. For example, you can keep track of features they never use or heavily underutilized options.
    • This data can assist you in educating your customers as well as providing insight into future SaaS training and certification plans.
  • 4. Advanced training and certification is a good choice

    • Customers may not be satisfied with tutorial videos and documentation if you offer a complex SaaS product.
    • You can ensure a complete understanding of the app’s functionality and keep customers on board longer by providing advanced SaaS training and certification via a SaaS customer training platform.

Is it necessary for your SaaS company to provide training and certifications?

Several factors influence the need for SaaS training and certification:

  • 1. The product’s complexity

    complex products necessitate extensive tutorials and training.

  • 2. Customers’ satisfaction with functionality

    a lack of understanding of the product’s features may cause dissatisfaction.

  • 3. How frequently do customers become stuck while using the product

    customers frequently become stuck because they lack the necessary training to use the app properly.

Basic training materials are still required, even if your product is intuitive and straightforward. SaaS certification and training must be reconsidered whenever you plan to add new functionality.

With Paradiso LMS, you can make the most of your SaaS stack

Paradiso is a learning management system (LMS) that focuses on external training. Our customers primarily use us to train their partners, customers, franchisee members, and other employees. The goal is to make it seamless for SaaS companies to launch their own “training academy” and possibly outsource entire training programs.

SaaS companies can add the “Training” button (our widget button) anywhere on their software with 2-3 hours of development work, allowing the customers to do Single-Sign-On and send primary data like name and role (admin or user) and login to LMS.

Paradiso LMS can be fully customized to become your SaaS customer training platform. You can even pay per use, outsource course creation or complete online training to us for an additional fee.

Wrapping Up

According to Forbes, the SaaS market is becoming increasingly competitive, which estimates that the sector will be worth nearly $95 billion by 2022. In addition, users have more options as the market becomes more saturated, forcing SaaS companies to do more to reduce churn.

If you’re a startup or a new SMB, you should expect a churn rate of around 5% per month. A 5-7% annual churn rate is a good benchmark to aim for as your company establishes a product-market fit with a high-quality product.

Prevent your customer and reduce churn

Follow us!

Do NOT follow this link or you will be banned from the site!