From creating a loyal customer base to accelerating value delivery, a well-designed customer onboarding process plays an essential role in shaping your business.
But only if it keeps up with the ever-changing market demands.
And what could be a better window into the latest trends than some fresh onboarding statistics?
Rocketlane, a customer onboarding software, surveyed nearly 290 customer onboarding and implementation experts in the SaaS and technology industry to discover their pain points and how they can be eliminated or minimized.
Exploring the current stats and trends in the world of customer onboarding will help you set the right benchmarks and bring your A-game to work each time!
This article will cover 10 incredibly important customer onboarding statistics. We’ll also cover a few onboarding metrics you can use to track the onboarding program.
Simply put, customer onboarding is the process of helping your customer find quick value in your product through walkthroughs, training, integrations, product guides, and effective communication.
Rather than just explaining what the product does, a customer onboarding process helps a customer solve their problems or reach their goals through your product.
Some benefits of a successful onboarding program are:
But how can you stay ahead in the onboarding game?
Let these statistics lead the way:
Let’s take a look at some essential onboarding statistics from the survey:
Companies should prioritize building a quality customer onboarding strategy for effortless customer engagement, retention, and satisfaction.
In simple terms, time to value (TTV) is the time your customer takes to experience the product value for the first time, a.k.a. their ‘aha moment.’
A short TTV is desirable for any company. In fact, 50.3% of companies use TTV as a vital KPI to measure the success of their customer onboarding teams.
The longer your new user or customer has to wait for value, the more likely you’ll lose them. In fact, US companies lose nearly 136.8 billion annually in avoidable customer churn.
This becomes more evident if you’re handling multiple customers.
But your TTV may suffer if you don’t have the capacity to give each client your hundred percent.
And if your existing customer feels that you aren’t fully engaged in delivering value, they may switch to a better alternative with a shorter time to value, affecting your retention rate.
Barriers to streamlined product usage can also affect TTV and lead to a poor onboarding experience. For example, in a LinkedIn poll we ran, 16% of consumers said they would quit if a product were glitchy, and 45% would quit because of a delay in TTV.
You can tackle this issue by providing a structured onboarding process and a dedicated customer support service that can solve any issues a new user or customer may face.
Onboarding programs that offer a faster value delivery experience have an undeniable impact on customer satisfaction and relationships.
As Girish Mathrubootham (CEO & founder, Freshworks) states, “a great implementation and onboarding experience quickens product adoption and shortens the time to value. This makes onboarding a potent weapon for battling downstream churn.”
To achieve this feat, companies must develop a digital onboarding process that’s simple and easy to use, yet highlights all the necessary information about their product.
A single project consists of multiple dependencies, complex documentation, and implementation issues.
And if your project manager or onboarding specialist handles various onboarding tasks, it may be impossible to access all the information simultaneously and be aware of customer pain points.
But that’s not all:
Insufficient project visibility doesn’t just hamper your employee; it affects your clients too. Using multiple onboarding tools will scatter vital information they need to see and disrupt communication.
For example, around 67% of companies felt follow-ups with internal and external teams were their biggest time sink, leading to inefficiency and time wastage.
Here are some customer onboarding best practices to increase project visibility:
Clear visibility helps the digital onboarding teams and clients track project statuses, maintain good client relationships, offer great customer service, and eliminate potential risks that’ll lead to a poor onboarding experience.
This brings us to another essential factor necessary for a smooth client onboarding: Trust.
If you’re looking to create long-term client relationships, you’ll need to gain their trust. This makes room for potential cross-sells in the future or partnerships that benefit both sides.
Being transparent about project progress at every stage of the customer onboarding process is one of the best practices for developing trust and an effective onboarding process.
For example, an employee in your customer success team or the onboarding specialist can create an onboarding workspace for a new customer.
They can then access it anytime to view tasks, project updates, and documents in real-time.
This will also give the customer complete project visibility, allowing them to see exact project statuses. You can then offer a solid customer support service to address your client’s issues.
As a result of such structured onboarding processes, they’ll be better prepared for any last-minute decisions
A lack of continuous feedback prevents companies from knowing what their new customer thinks about their products. In the long term, such feedback could be all the difference between gaining and losing a competitive edge.
But that’s not all:
48% of companies in our 2022 survey stated that they collected feedback manually through emails or calls.
This leaves no room for a centralized platform to gather feedback and generate Customer Satisfaction Score (CSAT) scores. Especially when nearly 46% of the companies regard CSAT scores as a vital KPI to measure customer onboarding teams’ progress.
Additionally, you can use Rocketlane’s native forms to intake requests, collect feedback, conduct customer surveys, measure customer engagement and migrate data.
With this intuitive feature, you can prevent third-party client onboarding software for your onboarding programs and maintain all customer data in the same place. Teams can turn responses into tasks, saving time and ensuring no action item slips through the cracks.
This will help ensure an effective onboarding experience and boost customer satisfaction.
Being aware of the difficulties your contemporaries face while onboarding their clients may help avoid the same mistakes and improve the onboarding experience you offer.
Ed Powers, a Customer Success expert, says intuition and emotions influence 70-80% of decisions made by the human brain. That’s the gap that a powerful onboarding experience can bridge for any company.
These are some of the best practices you can follow to offer a seamless onboarding experience are:
Following these customer onboarding best practices and having a dedicated customer success team or onboarding specialist may make all the difference in your onboarding programs.
For even better results, opt for purpose-driven client onboarding software like Rocketlane to deliver a customized, consistent, and delightful client onboarding experience.
A customer onboarding process is a two-way street that requires complete client cooperation. This means you’ll occasionally need to follow up with their onboarding tasks and deadlines.
But how can you make the customer accountable for their end of the bargain in an onboarding program?
With a dedicated customer onboarding tool!
Rocketlane lets you assign tasks to your clients and add deadlines for each task. You can also gently nudge your clients with automated reminders. This ensures you and your clients keep up with onboarding tasks and activities — helping you prevent a poor onboarding experience.
Many customer-centric SaaS companies were able to make their way out of the 2008-09 recession. That’s because they prioritized their existing customers and focused their resources on losing as few clients as possible, improving their retention rate.
This is especially true in a saturated market that allows a new user or customer an easy choice between roughing with a poor onboarding experience or switching over to a new product.
An excellent customer onboarding strategy can reduce the effects of an economic downturn through:
Using multiple onboarding tools creates information silos across many tools, folders, and departments, leading to poor onboarding processes.
This results in inconsistency and poor project visibility. It may also limit your opportunity to learn and improve your onboarding strategy.
That’s why you should invest in an all-in-one dedicated customer onboarding tool like Rocketlane that holds all files, communication, and workflows in a single place.
Our study states that 56.7% of responders use 2-5 hours on reminders weekly, while another 19.3% spend more than 5 hours on the same.
How does this happen?
Using multiple platforms to manually onboard clients slows down the onboarding process, makes you prone to errors, offers zero visibility into projects, and affects client engagement.
You’ll also struggle to check deadlines, provide necessary customer support, and do the necessary follow-ups for all projects.
Rocketlane solves this problem by automating reporting and follow-ups. This way, you can gain important insights without spending much time and set up email reminders to remind clients about task statuses for a smooth customer journey.
You can also create custom project templates and reuse them to maintain consistency and accelerate the customer journey.
While these onboarding statistics are insightful, the most important stats will be the ones you track for your own company. Next, we’ll cover a few metrics to keep an eye on.
Measuring how successful your client onboarding process is will help you check if you’re on the right track. And if you’re not, these metrics may help you figure out where you’re going wrong.
Here are a few such metrics:
Quality shows how you’re doing in two areas:
The following metrics help you track quality:
With these metrics, you’ll shed light on how much time and effort your customer invests during each customer onboarding process.
The following metrics help track time and effort:
These metrics show how your clients engage with your products or how well they rate your overall service.
The following metrics help track advocacy and engagement of an effective onboarding program:
The higher your product adoption rates, the more likely your customer onboarding process will succeed and improve customer retention rates. In fact, 68.3% of companies consider product adoption and usage as a top KPI for measuring customer onboarding teams.
The following metrics help track adoption, retention, and outcomes:
So how do we sail through all these scores?
Simple: Get a dedicated customer onboarding tool!
Rocketlane is a collaborative customer onboarding tool that helps you easily hit project milestones, accelerate time to value, offer excellent customer service, and deliver an effortless customer experience.
With Rocketlane, you can:
Deliver a delightful customer onboarding experience
Get complete visibility across all projects
Leverage templates for a faster project set-up
Boost productivity through effortless collaboration
Customer onboarding statistics may keep changing, but an outstanding onboarding experience never goes out of style.
At Rocketlane, we take these stats seriously.
That’s why we made a product dedicated to onboarding.
We offer customizable walkthroughs, free templates, time tracking, accelerate customer journey, and more for the best customer experience.
So why wait?
Sign up for Rocketlane’s free trial to see how the tool delivers an effortless customer onboarding experience!