Are you tired of losing valuable customers and revenue due to high churn rates? GUIDEcx is here to help. Our comprehensive customer onboarding and success platform is designed to reduce customer churn and boost your business growth. With GUIDEcx, you can ensure a seamless onboarding experience, increase customer loyalty, and maximize lifetime value.
Why is it so important to address customer churn?
For one thing, it’s expensive. Most studies estimate that the cost of acquiring a new customer is at least five times more expensive than the cost of retaining an existing customer. And that figure doesn’t factor in the revenue loss when a customer leaves.
Industries Improving Churn With Customer Onboarding
The average customer churn rate in SaaS is approximately 5 percent. Customer churn in this industry is often caused by poor customer engagement and/or customer service, especially during onboarding. That’s the only chance you have to make a strong first impression on new clients. You can improve that first impression and reduce the risk of churn by streamlining the process and improving communication during onboarding.
SaaS providers must minimize the time it takes to implement and train users on their software. The sooner your customers can start to use your software, the faster they can see a return on their investment and the less likely they are to think about moving to one of your competitors.
Client trust is imperative for a FinTech provider. It’s essential to show your clients how much they can trust your company from the beginning of your working relationship. That means the onboarding process must be transparent and predictable.
Oftentimes, customers don’t have a clear view of the onboarding process. Unless you show them, your customers can’t know what happens during onboarding. Are your team members working on their tasks? When will they be completed? Is there information or feedback your team needs from the customer to continue moving forward?
Answering those questions clearly and honestly can significantly improve a customer’s onboarding experience and reduce the churn rate for your FinTech company.
As the healthcare industry continues to embrace new technology, HealthTech providers have a chance to give their clients priceless tools and resources. However, implementing new technological solutions can be a complex process, especially if your clients are large organizations with multiple facilities and many stakeholders.
During onboarding, it’s crucial to ensure that your customers can see every step of the process and know what’s coming next. Fast scaling capabilities are also important; automating project management tasks can ensure that onboarding stays on track even if there are significant personnel changes within your organization or your client’s.
Teamwork and transparency define success in the EdTech industry. Your education technology clients want an onboarding “syllabus” they can reference to understand each step of the process.
Additionally, time is crucial for many EdTech customers; there are hard deadlines that they must meet. As such, your company must ensure that your clients have a clear view of onboarding from start to finish as well as a reliable way to track the process and know precisely when they can expect to reach certain milestones.
Benefits of GUIDEcx and Customer Onboarding Software
Don’t Take Our Word For It. Hear From Our Customers
GUIDEcx Empowers Our Customers To Realize:
49%
Reduction in Onboarding Time
4X
Increase in Project Manager Capacity
86%
Fewer Onboarding Meetings
90%
On-time Delivery Rate when 5+ Users are Invited
Ready to Reduce Churn and Improve Customer Retention?
Did You Know?
- 85% of businesses agree that improving customer onboarding and reducing churn is a top priority.
- Companies that invest in customer onboarding see a 10-15% increase in customer lifetime value.
We GUIDE The World’s Leading Brands:
Over 300,000 projects completed on GUIDEcx.
Talk With a Guide Today
Discover how GUIDEcx can help you improve efficiency by reducing your customer onboarding timeline and increasing the capacity of your project managers. Our unparalleled professional resources and unwavering commitment to excellence support our industry-leading customer onboarding solution.
