We recently released the eBook "Building a Business Case for Customer Training." Last week, we shared the first step to build an effective business case for customer training, outlining your pain points. Today's post will be covering step 2 of building a business case: providing potential cost savings.
Step 2: Provide Potential Cost Savings
Even the largest organizations don’t have unlimited budgets. For this reason, key stakeholders need to assess whether a new initiative will be worth it in the long run.
Remember, any new technology like an LMS should be viewed as an investment. To avoid sticker shock, give your executive team an estimated cost, but focus on the ROI. In other words, how will it will pay off over time? Here are a few metrics to highlight.
- Return on Time for CSMs
If your organization is still relatively small, your Customer Success team may be able to split its time equally between each of your customers. They’re likely spending hours on onboarding and implementation training at the start of the customer’s lifecycle. But as the company grows, this becomes less practical.
So, what can you do? You could hire more Customer Success Managers to take on the extra workload. Alternatively, you could scale your efforts by providing on-demand training during the initial onboarding process. This allows you to decrease the number of customer touches and increase your team’s efficiency.
- Reduced Cost of Training
Are you sending someone on a plane to conduct training in person every time you need to onboard a new customer or evaluate their skillset? This is neither time efficient nor cheap. Of course, there’s the upfront cost of each flight. In addition, your trainers likely need to be reimbursed for their food, accommodations, and transportation upon arrival.
Break down the total price for your executive team and explain how these expenses can all be reduced by implementing on-demand and virtual instructor-led training (VILT).
- Reduced Support Tickets
Is your team tired of answering the same questions over and over again? We don’t blame them; this is an entirely reactive and time-consuming approach.
Help them out by introducing training content that addresses these key problem areas. As a result, you should see fewer inbound support tickets, which means you can resolve the issues that do come up faster and with fewer resources.