Onboarding Metrics - Deepstash
Onboarding Matters

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How to create a successful onboarding process

Why onboarding is crucial for customer retention

How to measure the success of onboarding

Onboarding Matters

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Onboarding Metrics

When new customers begin using your product, they are not completely convinced until they start realising the value from it. Onboarding is not just about getting your customer familiar with the product.

It is also about hand-holding the customer in the initial usage which fits right in their context. They need to start finding value from the product to make sure that their ROI is soon and easily recovered. Hence, onboarding metrics help you gauge if your customers can attain those results or not.

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Free Trial to Paid Conversion

According to an industry-wide standard, a free trial to paid conversion rate of anything less than 25% is considered to be poor for this marketing strategy. It means, for example, out of 100 free trial users, if the number of customers who are deciding to purchase your product after their trial p...

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Importance Of Onboarding Metrics

Using the customer onboarding metrics is crucial because only through this you can measure the efficiency of your onboarding process and identify the areas that need improvements. Onboarding is the most usage-sensitive time for your customer because only during this phase, most of the customers d...

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Customer Progress

When you are providing the training to the customer, you need to divide the whole training package into different modules. Then for each of these training modules, you must measure the time a customer takes to complete them. 

You can either follow the tech-touch engagement with them where y...

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The Bottomline

The more accurately you can measure all the onboarding metrics, the better chances you have to improve the different areas. It is important to keep a granular view of your onboarding. Through that, you can fine-tune every aspect of it by measuring them individually.

Once you have executed ...

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Best Practises For Customer Onboarding: Pay More Attention

You might be following the high-touch or tech-touch engagement model for your new customers. No matter which model you choose, know that a new customer demands more of your attention in the initial times. You have to allocate more time than usual during the initial days. And as they grow old, you...

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Product Adoption Rate

There are many metrics to calculate the product adoption rate. Metrics like the Daily active users (DAU) calculate how many users are active on your platform on a daily basis. Likewise, MAU calculates the same on a monthly basis. The more engaged they are with your product the higher the adoption...

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Best Practises For Customer Onboarding: Standardise Your Process

Follow the same standards for all your new customers’ onboarding. This would make it easy for you to track the right metrics and introduce steps to optimise the process. If your efforts are inconsistent, then it will be difficult to know the areas of improvement.

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Customer Personas

Defining customer personas makes it useful for you to work with customers from different backgrounds. Your customers might be having a totally different mindset from the team that has built your product. They might start with using different features than what you expect. 

By creating their...

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Time to First-time Value

First time value is the point during the onboarding phase when the customer realises the value of your product in their business context. And Time to first time value is the time taken for them to reach that result. 

Now, when you are setting up your product in their technical environment y...

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Customer Response Rate

When customers start using the product, there are various points when they need your technical support to resolve their issues. Take regular surveys and feedback from the customers and log all the commonly raised queries in your customer success platform. Then measure the time you have taken to r...

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Best Practises For Customer Onboarding: Keep A Human Touch

Onboarding is not just about all the technical setup and getting your customer started on your product. It is also a phase when new relationships are built, sometimes even for a lifetime. Hence, keep your introductions with new team members remarkable and think of it as a start of a new relations...

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"Rule No.1: Never lose money. Rule No.2: Never forget rule No.1." ~ Warren Buffett

Here are top SaaS onboarding stats you should look out to keep a check on a smoother user onboarding process.

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Onboarding

An onboarding process helps customers understand how to get the most out of your service or product, which will increase its value and longevity. Consumers can get frustrated when a new product doesn't meet their needs. Effective onboarding helps to prevent that frustration.

Virtual cu...

Outcomes

Outcomes

Metrics that can be used in product management:

  • Business Outcomes (measures business value): e.g. number of customers, retention, number of users
  • Product Outcomes (measures how the business value is created through product): e.g. time saved performing an action, satisfaction du...

Rules For Great Metrics

  1. Use retention as a way to assess your market-product fit, as it tells you how valuable the customers find your product after they stop using it.
  2. Understand the steps your customers have to take to get to your product, and if you can eliminate extra steps.
  3. Focus on key data...

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