Consumers despise friction. They find it difficult to collaborate with a business conglomerate that fails to offer a frictionless service. Their major source of frustration is the “convenience infractions” they face during transactions such as abnormally long delays, disconnected marketing messages, etc.
Though friction is necessary for movement, in the realm of business, it can be detrimental. It doesn’t allow companies stay in tune with consumers’ needs and wants, hurting their trust and conviction. Further, friction gives rise to implications such as lower market standings, ruptured rapport, and dull growth. As a resolution strategy, simplified onboarding technologies allow companies eliminate friction and incubate trust in their customers.
In this blog post, we’ll discuss how a thoughtful, customer-centric onboarding process can remove friction and pave the way to organizational success.
In order to save companies from bearing witness to a dysfunctional business, a strategic approach must be taken. Robust onboarding system is instrumental in carving out this strategy. In fact, it helps companies heal from possible “friction blisters”.
Well-defined onboarding structure helps companies design effective customer journeys to guide them toward success. When customers feel guided and motivated within a system that stands on automated nurtures, personalized account management, and a cadence of useful content, they’re more likely to stick around, spend more, and spread the word. In other words, customers become loyal and trustworthy.
Customers are highly malleable indeed. Simplified onboarding approach helps companies form a positive initial opinion about their brand. This helps companies make a powerful brand perception and set the right tone from the start.
As the customers experience a good “first impression”, they become more loyal. Studies show that as customers become more loyal, customer retention rate increases by 5% and profits increases by 25%.
Hence, efficient onboarding not only enables companies retain customers but capture new revenue opportunities.
Here is how onboarding can do wonders:
It offers better insights: Modern onboarding systems offer delightful experiences to customers, making them loyal towards companies’ business. Valuable feedback received from such an informed audience can play a pivotal role in helping businesses grow and become easier to work with.
It allows organizations get more referrals and recommendations: There is no doubt that advocacy is a fundamental stage in the standard customer lifecycle. Once the primary customers are happy, they will often recommend their provider to friends and colleagues. Such direct word-of-mouth referrals are far more impactful and effective than other forms of advertising. According to Nielson, more than 84% of consumers report that they somewhat or completely trust peer recommendations. Simply put, with a good onboarding regime in place, you can attract new customers easily through referrals and recommendations of existing customers.
It rates companies positively: In the current digital era, online reviews have become a source of truth for consumers. According to BrightLocal, 88% of people find online reviews more important as opposed to personal recommendations. Now, with a powerful onboarding system, companies can offer better experiences to customers that subsequently rates a business positively, particularly when they are willing to spread the word online.
It creates more revenue: A slow onboarding system can delay organizational growth and revenue-making capacity. Companies need a fast onboarding system to provide 100% satisfaction to their customers. When customers are onboarded effectively, companies can offset acquisition, churn, and onboarding costs. This leads to a ripple across the business ecosystem, impacting sales and revenue growth.
Grease the wheels of your business with a powerful onboarding approach and set a path for a great future.