The goal of every company is to create valuable products and services for its customers. Businesses are constantly striving to create perfect and profitable products that meet the needs of their customers, thereby resolving any “common issues” they may have. Products are inherently more complex in today’s hyper-competitive market and advanced technology. As a result, customer education programs are required to ensure customer adoption, which in turn increases the market success of your products.
What is Customer Education?
Customer education refers to the process of giving potential and current customers the knowledge and skills they need to use your product. Its goal is to turn your company’s information into actionable knowledge that your customers can utilize and learn from.
A company strategy is a consumer education program. It includes tools for improving customer experience, product uptake, engagement, retention, and churn. Customer education programs that are well-designed should evolve to address new pain areas and impact measurable business metrics. They should also allow each consumer to obtain the product knowledge they require to be successful, based on their abilities, job function, or business requirements.
Benefits of a Customer Education program
1. Faster and easier onboarding
Onboarding is the process of transferring knowledge required to use a product. A customer education program explains how the product works, the benefits it provides, and why your product is superior to others on the market.
Rather than attempting to educate large groups of people daily, customer education enables your customer success managers to attend to every customer at scale using largely automated tools. You will indeed be able to recruit many customers with minimum effort and resources this way. Customer education methods optimize onboarding, assist users in reaching their goals more quickly, and inevitably increase customer satisfaction.
2. Customer Success Manager’s Return on Investment
Customer success teams devote a significant amount of time to providing value to clients. However, if they concentrate on onboarding tens of customers per day, they will be unable to develop business relationships with existing customers. This could have a direct impact on the team’s return on investment, which is derived from recurring revenue from renewals and upsells. Your customers can use a customer education program to gain online access to all of the tools and resources they need to understand your product and its features. As a result, customer success teams can focus on clients who require a little extra assistance. This will eventually increase customer lifetime value and decrease churn.
3. Reduced Training Costs
The entire cost of gaining new clients might soon become prohibitively expensive. Your staff, as well as your marketing and sales activities, software, customer training, and other expenses, all cost money. All of these issues add up quickly, and scaling is difficult. Remember that as your firm becomes more sophisticated, so will your training requirements. Any efficiency will help when it gets to that point.
Most successful businesses have moved on from 200-page user manuals. They realized it wasn’t the most effective approach to informing clients about their services or products. However, many businesses continue to devote additional resources to provide this type of training to their clients.
A well-designed customer education program can help you reduce training costs while improving training quality. By using an online learning platform, you can create a set of standardized training programs that are delivered consistently. While this will require an initial investment, it will result in lower long-term education costs.
4. Product Development Improvements
Let’s focus on the remaining tickets now that we know a customer education program can reduce the number of tickets in the queue. Users’ support tickets will become less basic and repetitive as they become more familiar with your product. Instead, they will serve as a valuable source of information about which features should be improved or implemented. They are, in some ways, uninvited feedback on your product. Even the best teams make mistakes during the development process. Perusing a high-quality support ticket provides you with the information you need to make sound product decisions. Admittedly, no amount of customer research can ever replace the expertise of the support team. They interact with customers and learn about their frustrations, joys, product requests, solutions, and other concerns. Educating your customers to ensure they receive high-quality tickets will do incredible things for product development.
5. Increased Customer Satisfaction
It is non-negotiable to keep your customers satisfied with your product or service. We’ve all heard that a happy customer is a loyal customer, and loyal customers are more profitable. Customers who don’t understand how to use the features your product or service provides will be dissatisfied with their purchase.
Finally, the goal of the customer education program is to ensure that the customer meets their milestones. Only then will it be useful to the company. Customer education programs provide numerous advantages while also assisting you in developing a community of loyal customers who will help you increase your ROI. So, if you haven’t already, consider developing a customer education program.
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