As a software provider, it’s always exciting to close a new deal. But how many of those deals evolve into a user base that regularly engages with your product?
Product adoption rate, or user adoption rate, is a metric that helps SaaS providers assess the adoption of their solution within a specific timeframe. Using the formula below, providers can get a sense for how many users actively use their product (and find value from it) versus those users who sign up and essentially “set it and forget it”:
Product adoption rate = [New active users ➗Total signups] x 100
With product adoption rate being such a critical metric, it’s important to know which variables are affecting it either negatively or positively. Recognizing client onboarding as one of these variables, we’ve organized a list of questions to assess your onboarding to see how it’s influencing your product adoption rate.
What Percentage of Users Are Completing Onboarding?
When a user drops out of the onboarding process, product adoption rates take a direct hit. But it’s more than just about the fact that they drop out; it’s when they decide to do it.
For instance, you may find that a lot of dropoff occurs during the data mapping process. It’s evident that clients are frustrated by the complexity and confusion of having to match the data fields in their legacy system to the new system’s requirements — so much so that they abandon ship. Knowing this pain point, SaaS providers can introduce improvements to their onboarding process that reduce friction.
Are Users Achieving Key Milestones During Onboarding?
Every SaaS onboarding process has critical checklist items that clients must complete. While vital to the effective use of the software, completion of these so-called milestones are also a sign of the client’s trust and investment in the solution.
Let’s go back to the data integration conversation. When a client goes through the step of importing their data into a new software system, it indicates they see enough value in the software to take this step and want to be as productive as possible with the solution.
Once data integration is complete, users are poised to dive deeper into the features and capabilities of your software. But do they? Ideally, the client checklist should include a guided tour of the software or orientation sessions that highlights key software features. Users who know how to engage with key SaaS features are more likely to be adopters and ultimately brand champions.
Are Users Engaging with Post-Onboarding Resources?
Some resources, like a guided tour, are built into the client onboarding process. Others act as a follow-up to the onboarding process to further support new clients. When users engage with post-onboarding resources, it’s not only a sign of continued investment; it offers continued education and support that encourages better product adoption rates.
Consider, for example, a series of webinars that guide users through how to use certain features in the software. Users will walk away from these webinars with a better grasp on your software’s capabilities and feel more proficient in its use — a win-in for clients and providers alike.
Is User Engagement Steadily Increasing Over Time?
User engagement is one of those metrics software providers always want to see on an uphill trajectory. That’s because, when user engagement stalls out or starts to decline, it’s often a strong indicator that they no longer see value in the solution and are likely to churn.
A well-designed client onboarding process can set the stage for continued engagement. With personalized workflows in place, for instance, SaaS providers can tailor the client onboarding process so that it zeros in on the software features that matter most to them.
It’s also important to think about follow-up communications that extend beyond the post-onboarding resources. One idea is to put together a client newsletter that keeps clients informed of new software features as they’re rolled out. Regular communication reinforces your role as a partner to clients while encouraging users to explore more of the capabilities your software has to offer.
Strategic Move: Adopt a Client Onboarding Automation Platform
If you’re a SaaS provider looking to improve product adoption rates, consider investing in a client onboarding automation platform. You’ll have the tools to deliver a seamless, efficient, and personalized onboarding experience for each of your clients. It’s the key to getting clients up and running on your software faster and in turn realizing value faster.
Ready to get started on your journey to better client onboarding? Setuply is an all-in-one automation platform designed to supercharge your client onboarding process. Request a demo today.