A research study from the Brandon Hall Group indicates that more than 54 percent of today's organizations offer some form of customer training program. In all honesty, if you're not currently training your customers or partners, you could be costing your business big time! Here are 10 reasons you should be investing in client education:
More Efficient Customer On-boarding
When you educate your customers early on in the sales and deployment process, it can significantly reduce the amount of time it takes for clients to fully take advantage of your product or service. This means the customer starts seeing a return on their investment sooner. It also means they're less likely to be inundating your support team with a calls and tickets.
Improve Customer Relationships
Providing training demonstrates to customers that you care about their success and experience with your products or services. Customers are more likely to have a positive impression of your company if they are comfortable with and regularly use your product, which is more likely for customers who have been properly trained.
Decreased Customer Churn Rate
It is far more expensive to acquire a new customer than to retain an existing one. The average success rate of selling to a customer you already have is typically around 60-70% compared to the 5-20% average conversion rates of new customers. When customers have invested time learning your product are more likely to stick with you and become brand loyal. Increasing customer retention by 5% can increase profits from 25-95%.
Opportunity for Customer/Audience Research
Training can provide valuable insight into how your customers use your products and services. By monitoring training registration, course participation and customer success, you can gauge which features may be difficult for customers to understand or aren’t as useful. You can use this knowledge to improve your product as well as the customer experience.
Let your existing customers be your best marketing tool. People are much more likely to make a purchase if they are referred by someone they trust. Training can help you build a community of local advocates and ambassadors. These well-trained brand champions are more likely to recommend your product to colleagues and continue to use the product as they move from company to company—greatly expanding your reach.
Additional Revenue Stream
Customer training can provide a valuable revenue stream either as a way to offset training costs or as a full-fledged profit center. By creating a revenue stream, learning and development teams are also able to provide a direct, measurable business benefit to their training programs—beyond learning results.
Increased Brand Recognition
Incorporating a certification program into your training not only provides an incentive for customers to take your training, it can provide increased brand recognition and exposure. As customers complete your certification program, they are more likely to display digital badges on their sites or email signatures—improving your brand’s reach.
Decreased Support Costs
Answering the same questions over and over again wastes time and money. Work with your customer support department to develop content that addresses key problem areas—allowing you to educate customers at scale. This can help you to reduce the number of incoming support requests and costs as well as improve the customer experience.
Increased Cross-Sell and Up-Sell Opportunity
Effective training drives continuous use and increases the lifetime value of a customer. Customers who fully understand and regularly use your products are more likely to purchase additional products and services.
Reduced Internal Training Costs
If you provide similar training to employees and customers, you can potentially re-purpose existing content as well as benefit from discounts available for larger scale training programs. Training rooms, instructors and training material production may all be available for lower prices based on volume.
Ready to start your customer training program? Download our Complete Training Program Planning Guide now.