How to improve SaaS product adoption?
Product adoption is an important activity that decides the existence and sustenance of a business. It is the process in which a user gets to experience the value of the products that are offered by a brand and makes full-fledged usage of the product. The higher the product adoption, the larger is the value experienced by the customers from your products. Product adoption apart from offering a worthy investment solution to the customer can also help a SaaS enterprise to enhance their customer lifetime value. A well envisaged and rightly implemented product adoption strategy can keep a check on the customer churn rate.
Production Adoption Rate
This metric is a measure of the number of customers who have adopted your products after their initial sign-up. It can also help you to understand the effectiveness of your sign-up mechanism. Product adoption can serve as a benchmark that can measure user activation.
It is expressed as
Product Adoption Rate = (New Users Total Signups) 100
Feature Adoption Rate
This throws light on the number of users who have adopted a feature and have started utilizing it. It considers the time required for a customer to adopt the feature and learn to use it.
How to Improve the SaaS Product Adoption?
1) Enhance the Product Support
Product adoption is directly dependent on the level of customer support. Offer round-the-clock support to the customers through interactive product videos, documentation, tooltips, tutorial apps, etc. Apart from product support, it is important to ensure that an enterprise keeps all its channels open to enable its customers to reach out to the customer team at any instance. This can help a customer to get familiarized with the product. Inadequacy and inefficiency of customer support can dissuade your customers from continuing with your services.
2) Offer Periodic Upgrades for Products
With time customer expectations change so it is important to ensure that your products and services evolve to accommodate customer expectations.Product upgrades should be an agenda of your quarterly and bi-monthly outcome forecasting plans.You can consider offering smaller upgrades to the products every three months and major revisions every six months.Merely offering upgrades is not enough, it should be complemented with proper assistance and support.Consider offering in-app walk-throughs for the products. This can help the customers to get accustomed to the product.
3) Offer Good Engagement
Offering good engagement to the customers can drive the rate of product adoption. Offer dedicated applications to your customers that can enable them to keep in touch with the customer support team.This can enable a SaaS organization to continuously engage with their customers and address their issues while offering interactive real-time solutions. An in-app solution can serve as a one size fits all approach that can help the customers to learn about the product and its associated features as well as interact with the customer agents in real-time.
4) Segment the Users
To drive better product adoption among the customers, enterprises can consider segmenting their customers. Segmenting the customers can help an organization to identify the usage pattern of the customers and identify what are the features that customers who belong to a particular segment look for the most. This can help a SaaS enterprise to fine-tune its products depending on the requirements of the segmented users. This can help a SaaS organization to offer value-added products to the customers.
5) Offer a Best Class First Experience to the User
The first experience can create a long-lasting impression in the minds of customers. So it is quite critical to ensure them a good first impression of your products, services, and related support. The embarking phase of the customer journey is onboarding, thus any compromise in the customer onboarding can instill in them a negative picture of your brand. This can put off some of the customers and they might be forced to quit your services. A good and dedicated approach to customer onboarding involves educating the customers about your brand and its products that help them to easily use your product and identify the first success or the ‘aha moment’.
6) Collect the Data and Evaluate the Results
Data is the oil; collect the data from all your customer support channels and review them regularly. You can use data analytics services that can help you to gauge what attracts the customers the most to your websites. This can often be an indication of the time spent by the customers on your web pages and the pages that the customers often visit the most. Data analysis solutions can also help you to identify the product problems that plague the customers the most and envisage better strategies to get around the problem.
7) Keep Your Customers Informed
For product adoption to happen, you must continuously communicate with the customers and keep them in the loop. Inform your customers about the latest developments with your products, like feature up-gradation. If you are offering a new product to the customer, consider organizing a webinar or some face-to-face interactions with the customers. For effective communication to take place it is important to keep open all the channels of communication with the customers.
For any business to thrive it is imperative to ensure a reasonable level of adoption of their products by the customers. As far as continuous subscription service like SaaS is concerned, it is important to ensure feature up-gradation and adoption so that customers continue subscribing to their products.
Customers and organizations who are on the lookout for SaaS products or solutions can seek our services. Our company offers Product Support services and cloud services for customers.You can reach out to us for more details.