Stop Losing Money: Fix Your Onboarding in 5 Simple Steps
Photo by Papaioannou Kostas on Unsplash
We saw referrals as an opportunity to grow our revenue.
We helped professionals learn programming in seven months and enter the tech industry. Most of them had jobs within 90 days after graduation.
Since they had a great experience, they recommended us to their family and friends. It was common to have a spouse or sibling joining our program after seeing our graduates doubling their income.
To seize this opportunity, we implemented a referral program. We estimated our customer acquisition cost (CAC) and established an amount that would be enticing for our graduates and reduce our CAC.
The program worked really well, but it was a pain to track.
Sales Ghosted
To fix this, we bought a referral system to automate the process. It was expensive. 5-figures expensive.
The sales guy was smooth. He explained the value, the ROI, the clients’ testimonials. Textbook sales executed perfectly.
We bought it and then nothing.
They didn’t follow up with the setup. Never reached out again. We never could configure it properly.
I was upset.
We've Come So Far
In B2B sales, onboarding is the cheapest way you can improve your revenue. These are clients that already know you and give you their money.
You already asked them to dance, and they said yes.
And you want to know a little secret? Most companies suck at it. They spend all their resources in acquiring new clients, and nothing in keeping them happy.
Tsk, tsk, tsk.
Make Yourself at Home
So how can you improve your onboarding? Here are five simple steps to fix your onboarding process right away.
Assign a Dedicated Onboarding Specialist
Assign a person in charge of the onboarding process. This has to be different from your closer. You want this person not to be distracted with sourcing or closing deals.
Initiate a Setup Call
Hold a first setup call and explain how to use the product and set it up correctly. Make sure to be available for any questions. Check in with them every day for the first week to ensure they are ready to go.
Reduce Time to First Value
Help your clients use your product as fast as possible to get a quick win. For instance, if you are selling a CRM, help them import their client list right away.
Maintain Regular Check-ins
Have a regular cadence to check in with your clients. You could start with once a week, and later once a month. This will give you opportunities to prevent losing clients, and even, opportunities to upsell.
Systematize the Process
Make sure that you document what you are doing so that you can have a consistent experience, scale your customer success team, and improve the onboarding process.
So, fix your onboarding, improve your revenue, and make your clients love you.
It is worth it.
Jorge Téllez is a LATAM Tech Growth Leader and Expert in Regional Expansion & GTM Strategy. He is advises several startups and is a Techstars alum.
