We recently released the eBook "3 Ways to Create a Best in Class Customer Training Plan," where we discussed the impact the GET Methodology can have on your overall training plan. Today's post is about how to improve your program by establishing realistic goals and benchmarks.
The first step to develop an effective customer training strategy is to consider where your program stands today. If you haven’t already done so, start by asking:
- What are your registration, completion, and drop off rates?
- What is your current product adoption rate?
How many customers churned and how many renewed last quarter?
These type of questions can help you understand baseline metrics, so you can then get a better idea of where there is still room to improve.
At this point, you may also want to research how other companies are training their customers. If a course is publicly available, you may be able to click into it and gain some design inspiration. Or better yet, just ask around! Chances are, your peers in the training industry would be happy to network and share a few pointers.
Whatever your findings, keep them in mind as you build out your training goals. As a reminder, they should always be SMART (Specific, Measurable, Attainable Relevant, and Timely).
Here’s an example: maybe your team is looking to decrease your customer churn rate from 10% to 5% by EOY.
***Generally speaking, 5-7% annual churn is a good benchmark. In fact, according to Pacific Crest, roughly 70% of SaaS companies in their survey had annual churn in the < 10% range, with 75% of those at 5% or under.