Bringing new customers onboard is the most important part of the customer journey. Yet, despite this being so critical, poor onboarding is the main cause of customer churn.
It’s estimated that more than half of customer churn is related to poor onboarding and less-than-stellar customer service. In the United States alone, avoidable customer churn is costing businesses over US$136 billion a year. While it’s easy to blame this on poor products, the main reason customers leave your company in the first year is that they never got value from your product in the first place. They fail to launch.
Donna Weber, author of Onboarding Matters, How Successful Companies Transform New Customers into Loyal Champions, said: “Even though customer success is an established function in many B2B companies, they continue to miss the target during the crucial beginning of the customer relationship.”
Deploying a successful customer onboarding program results in higher revenue, more satisfied customers and employees, higher solution adoption and an increased customer lifetime value.
Weber details the Orchestrated Onboarding framework she implements with leading business-to-business (B2B) companies to turn customer onboarding from a missed opportunity into a competitive advantage.
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