The 3 principles of Customer Onboarding to skyrocket your business’s Lifetime Customer Value

The 3 principles of Customer Onboarding to skyrocket your business’s Lifetime Customer Value

While acquiring new customers is top of the mind of every business; it’s in extra efforts a business is willing to put in to retain customers that make the more distinctive difference in being a success and bring a runaway success.

Not really a need to explain but just to refresh, Customer Onboarding is the process of familiarizing a new customer with a company’s products or services. A customer chooses a company to fulfill a need; but if you let her stay there and don’t attempt to introduce your broader range of services and products; you’re losing out on precious revenue and a valuable believer in your company. No matter how much we embrace digital; word-of-mouth is still worth its weight in single-carat diamond when a recommendation comes from a deeply satisfied customer.

Here is a little validation of our assertion: One of the most respected consultancy firms, Bain & Company discovered that an increase of 5% in customer retention produces more than 25% increase in profits.

The secret to providing an effective customer onboarding experience is to first identify how to get a consumer to use the service more often, for longer or in a more profitable manner.

Keeping these 3 foremost principles in mind while you develop and initiate a customer onboarding process will ensure a smooth beginning and excellent engagement that’ll shoot up your Lifetime Customer Value to unimaginable heights:

  • 1. Begin immediately. Onboarding a new customer should begin immediately to take advantage of initial euphoria. The more you wait, the lesser the chances of a customer sticking through for long.
  • 2. Consider onboarding as a powerful platform to demonstrate your strengths and benefits to the customer.
  • 3. Keep it simple. Customer Onboarding sounds complex but should never appear complicated- it is simply about ensuring finest experience for customers while they stay with you.

Wondering how customer service can be used as a priceless tool that leads to customer retention for life? As an outsourced customer service partner, we’re the often the first point of contact for a new customer, and our experience in intuitively understanding human needs and customer requirements makes us the perfect foil to your business in presenting your range of services in a positive yet non-intrusive manner. We’re also the first in the firing line when something goes wrong (as it often does) and the fire needs to be doused quickly and proficiently.

Sign up for our newsletter

We're trying to change the Customer Service landscape in India. Join our weekly newsletter for more such insights and information. We never spam.