What is product adoption and why is it the buzzword in the global B2B SaaS industry? How does social learning help promote product adoption? Read on to know more.
Product adoption - a focus keyword for most product-led growing B2B SaaS companies around the world. What is it and why is it THE buzzword across industries these days? If you are into product marketing or any relevant role, not a day would fly by without the mention of ‘product adoption’, right?
In most cases, businesses, especially in the SaaS industry, tend to focus on the individual stages, rather than on the whole journey. As the legend Stephen Covey rightly said, “The whole is greater than the sum of its parts put together - Synergy, Habit Six, “7 Habits of Highly Effective People”. Well, in this case, we can say - a highly effective process!
So what about product adoption and how is social learning going to help boost product adoption? Well folks, read on to grasp the facts in depth.
Also: Read more on product adoption and how you can make users love your product offerings more, right here.
As it is already known and proven, product adoption is a key metric for any B2B SaaS company. Also known to be the opposite of customer churn, you would want to leverage your existing customers’ list value, not let them look for your alternatives. Here are a few quick pointers on key product adoption strategies that might help cut down on customer churn, which is a primary cause of concern for most B2B SaaS businesses.
A. Know and work for your user personas to the T
Identifying your customer requirements helps your business design products to solve their pain points. With ample market research, product-market fit analyses, user segmentation, identifying their key activation points throughout their customer journeys, and tracking your product adoption metrics through detailed insights.
B. Create personalized user experiences
With diverse adopter profiles out there, it is only fitting that creating personalized experiences can effectively produce delightful customer experiences. Using analytics and product experience(PX) tools, you can analyze them all meticulously. Not only this, you can continue to personalize the user onboarding flows, key behavior differentiation, offering subscription plans tailored to their requirements, etc. And P.S. - do not forget to track the product adoption metrics.
C. Live and breathe the concept of product adoption
As they say, obsession with customer pain points can reward businesses in the best of ways. Collaborations across functional teams such as data discussions, and including product adoption metrics from level 0 to the top, can make a lot of difference!
D. With feature adoption and retention drives, convince your customers
By gently nudging your customers, i.e., not so frequently though, remind them of your product features, in terms of their value to the customer problems. It is recommended to do this through emails and other channels that your customer may have signed up for. Customer segmentations play a vital role, and taking them through your offerings across categories, makes or breaks the deal.
Social learning, in the times of cross-customer community education, can prove to be a huge business booster. Companies like Salesforce, HubSpot, Slack, etc., to cite a few big names, have been known to use social learning to promote product adoption.
B2B SaaS products are usually known for their complex nature and with multiple stakeholders involved in the decision-making process, social learning can help your business build and develop trust over time, effectively drive the product adoption journey and amplify the customers’ product experience as well.
For the unacclimatized, this theory, introduced by the famous psychologist Albert Bandura proposes that the process of learning happens through observation, imitation, and modeling. Now, let us see how social learning helps in the product adoption journey.
A. Social environment creation for product learning
Create a product community, where users can engage and learn with and from each other. Video creation-and-collaboration, is also a preferred mode, for customer education, video tutorials, etc.
B. Using social learning strategies to promote product adoption
Effectively utilizing learning strategies to incentivize product learning and adoption processes is a good way to boost your product adoption opportunities. For example, awarding user badges for product review/content review of product.
C. Social proofing in product adoption
Promote your business product adoptions through statistical data - say the number of users who have adopted your product, or customer testimonials.
As for all curious readers, some benefits of social learning in the product adoption process are:
Social learning can help get users to engage actively with your product. With social engagement, they would be less likely to experience challenges, getting one step closer to product adoption. Asking questions, sharing knowledge, etc can help create a sense of community.
2. Lesser customer support costs
Curtail all your customer support expenses, through social learning, by helping users with resources and guides for effective product experience. With increased access to social learning resources, the higher may be the chances of product adoption
3. Experience the surge in customer satisfaction
An increased collaboration with fellow customers can help in business revenues shooting up organically and a quick build of trust amongst the customer community as well. That folks, is a major advantage of social learning!
Customer education is a fundamental process in the product adoption process. We have already explained in another blog, how these two factors are connected. Reducing customer churn is a top goal for most businesses, followed by increasing customer-product engagement, and boosting revenues through up-and-cross-selling.
Did you know that videos are the most preferred choice for customer-product adoption? Be it brand awareness, lead generation, or conversions, a well-crafted video can do the job for you!
Trainn is here to simplify your customer education journey. Effortlessly, bring out the best of your video-creation skills to design customer education programs for your business. Let your customers and leads explore your products and services, through your interactive product videos. Schedule a demo, with Trainn’s team of experts, at your services, to help you nip all your product adoption problems in the bud!
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