Infographic: The ROI of Customer Training

Joshua Thayer
Jun 12, 2018 3:37:59 PM

thought-industries-roi-of-customer-training

Customer learning is a "value-add" that differentiates your company from the competition. It's a win-win: Customers learn to use your product or service more effectively and you benefit from the revenue stream.

Return on investment (ROI) and value on investment (VOI) have a well-defined connection. If customers can't find value from the learning that your organization provides, you won't reap the business benefits. 

Challenges 

Growth: If a software company grows only 20%, it has a 92% chance of ceasing to exist within a few years. (Source: McKinsey)

Cost: Acquiring a new customer is 5–25x more expensive than retaining an existing one

Benefits

Product Adoption: 68% of trained customers use the product more. 87% of trained customers are able to work more independently. (Source: TSIA)

Renewal Rate: 92% of trained customers renew versus only 80% of untrained customers. (Source: TSIA)

Profit: 5% renewal rate increment equals 25% to 95% more profit. If renewal rate is 12% higher, then profit increases by 60–228%. (Source: Bain & Company–Frederick Reichheld)

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