Customer success initiatives are largely built on the following hypothesis: companies that invest in their customers’ success reach higher levels of customer satisfaction, which in turn becomes a driver of profitability through customer retention. This hypothesis is based on multiple studies and surveys conducted over the past two decades in various industries. But it has never been more relevant than in the SaaS industry.
The SaaS market is estimated to reach an astounding $71.2 billion in 2018; yet it’s not surprising considering the many benefits this new cloud-based service model offers. In this new ‘subscription economy’ 70-90% of profit is generated from renewals and upsells, which explains why the focus in SaaS companies has shifted from marketing and sales to customer experience and success. But as successful as this model has become, SaaS vendors still face a great many challenges to achieve high levels of customer success, with product adoption, onboarding, churn reduction and customer retention being right at the top of the list.
SaaS companies need to sell success.
In a reality where customers can simply switch to a new vendor whenever their subscription is over, the single most prominent competitive advantage SaaS companies have today is not the product they’re selling, but their ability to provide an outstanding customer experience to drive their customers to success with that product.
One of the basic and most critical stages of customer success is software customer training. Software training is widely acknowledged today to get customers to adopt and continue to use the platform long after the initial sale. In order to do this, you need to make sure:
- Learning sticks by providing hands-on experiences in real-world applications and scenarios
- Trainings are kept up-to-date, always reflecting your latest features
- Learners are able to interact with trainers and vice versa
- Your training delivery platform is scalable and cost-effective
- Your training solution can support your SaaS application, regardless of where it is hosted
- Your solution is easy to set up, administer and manage
Effective SaaS Training is the Secret to Success
Statistics show that SaaS companies that invest in creating smooth customer experiences and introduce strong customer success programs grow exponentially by doubling sales on a yearly basis, with training being a vital part of any customer success program. Yet, when it gets to training for SaaS applications, the main and most powerful training mode hasn’t been available until now: fully interactive virtual instructor-led training that supports any SaaS application, regardless of the cloud on which it is hosted. Our whitepaper, The Challenges of Delivering Training for SaaS, explains why virtual instructor-led training is critical to the success of complex SaaS applications.
Read The Challenges of Delivering Training for SaaS Whitepaper to discover:
- The main challenges SaaS companies face today when delivering training
- Can new models of software training meet these challenges?
- What the optimal learning environment looks like
- Which functionalities you should look for in a software training lab