So you’ve landed a new customer. Congratulations! Guess what?
You are now in a race against time to demonstrate your product’s initial value.
Customer success managers, minimize time to first value—reduce churn
Once you’ve completed the normal administrative tasks to activate your customer, the clock starts ticking. In the SaaS subscription world of outcome-driven, recurring revenue, that means let the coaching begin!
Lincoln Murphy, a respected SaaS industry strategy consultant, put it bluntly:
“Either you engage them here or you lose them forever.”
The quicker your customer experiences value from your solution, the quicker you set the foundation for a long, satisfying customer relationship—and winningly, reduce the probability of churn. In his Time to Wow! blog post, David Skok describes the Wow! moment this way: Wow! is the moment where your buyer suddenly sees the benefit they get from using your product.
Naturally, the solutions delivered to the customer will differ for each software company; but what is critical to achieving early customer success is understanding your client’s initial goals. Get involved early—before the licenses are issued—and start by asking this question:
What is the first problem your customer is expecting to solve with your product?
Once you understand your customer’s first goal, you can customize initial activity to target that goal and demonstrate immediate value. Even more impactful is the ability to measure your product’s contribution to reaching that goal; so be sure to measure results that track progress.
Amity President and CEO, Paul Philp, shares a great example of minimizing the time to Wow! Upon registering for a trial with Positionly, an inbound marketing company offering easy-to-use SEO ranking tools, he was delighted to get to Wow! in a few short minutes. After sharing his industry-relevant keywords and competitors, Paul received two useful SEO ranking reports that he promptly shared with his team.
Leveraging automated tools can speed the customer onboarding process; helping shorten the time to early success. Tutorials, videos or on-screen tips can help—but be sure these are all targeted at the activities that work to achieve your customer’s initial goals. Minimizing the time it takes for a customer to experience value from your product is not only a key component in onboarding a new customer; it’s also a sure way to score points and set your client up for future success….and growth.