In today’s world for some B2B and Enterprise SaaS companies, the budget is tight and the chances for closing deals are lower than usual. One say that th main reason bbehind the problematic means of closing deals and budget tightness stems from the recession building up within the tech sector, such as closing down of companies and stocks are decreasing vastly. The lack of purchases and bad customer satisfaction rates decreases profits and revenue a company makes. This unfortunately results in lower rates of customer retention and affects the customer adoption and customer satisfaction processes as well.
B2B and Enterprise SaaS companies look for many outlets for solutions for the many problems they face. However, there is a fast and effective solution to implement from the start for these companies, which is to apply technological tools from the initial sales process. Product-led growth execution is a vital way to empower a company’s whole process and augment growth efficiently and intertwining it with technological tools, such as customer enablement and product enablement also enhances this process to a whole new level.
Now, let’s look at how implementing product-led growth and technological tools can improve your company.
What is Product-led Growth?
Product-led growth is a business strategy that puts a company’s software at the center of the buying process and usually at the broader spectrum of customer experience. The main agenda is the product itself and what is related to the customer retention by placing the product as the persuading factor for the purchase to be made by customers.
One reason to adopt product-led growth is because it helps B2B and SaaS companies with sustainable growth and scale company growth as well by decreasing the need for money, because this strategy places the product in the center of the selling factor for the customer making it the reason to buy the product in the first place. Another rationale to execute product-led growth is because it is a major way that helps companies in a world where budgets are tight and deal processes are at risk by administering a lower risk and decreased need for money.
Although administering the product-led growth strategy can increase and enhance B2B and SaaS companies to achieve solid progress and greater purchasing rates, this method is not quite enough to maximize the full potential of a company, mainly because there are other features that need to be looked into as well. Here, is where customer enablement tools, product enablement tools, etc come into the picture. These tools can improve B2B and Enterprise SaaS companies success rates, especially in terms of customer satisfaction and customer adoption processes.
How Different Strategies Can Help
With different strategies and tools, such as customer enablement tools, product enablement tools, user experience tools, and CPQ implementation, B2B and Enterprise SaaS companies can benefit largely. These benefits generally concentrate on the common theme of helping and generating customer bases from customer satisfaction and brand loyalty for these companies.
Customer enablement is a fundamental strategy in which companies adopt to enhance and maximize the overall customer experience journey. Customer enablement tools provide customers with the necessary training and resources they need to successfully use the products and services of a B2B and SaaS company. One crucial way customer enablement tools can help a company is with great customer service, because these tools build customer communities with onboarding strategies and surveys.
But, customer service is not the only fundamental way customer enablement tools help B2B and SaaS companies. Feedback is a necessary means for customer satisfaction and customer adoption to increase a company’s success rates and customer enablement tools provide the right tools, such as educating customers, making it easy for customers to receive support, and generating community forms. Collaborative outlook feature is another tool that customer enablement provides to companies and with this tool your company’s employees can collaboratively engage with customer needs by using surveys to discover gaps in the knowledge of the company and overcome these weaknesses in strengthening customer support.
User experience (UI and UX) play a fundamental role in customer adoption and customer retention, user experience strategies center the customer at the heart of the experience by improving and easing their experience with a few elements. The elements that user experience implements can be described as: improving website navigation, generating and revealing relevant content, creating high-quality content, inserting relevant links to follow, etc. All of these features can enhance customer experience by easing the usage, effectiveness, simplicity, and utility by delivering customer needs and requirements. For example, by putting forth related content on a website at the beginning with the user experience strategy, the customer can easily and effectively access the information they need which ultimately generates customer satisfaction.
Last week I attended the content Israel conference one of the topics discussed was the design’s importance in administering user experience and CX strategies. In fact, at the conference, I met Yuval Bar-Or PintagoUX’S CEO and he stated that: “Leveraging UX can make or break even the best idea, and this a crucial step in up-and-coming creative tech sectors.” Here it is visible that user experience has generated a strong impact towards customer satisfaction and customer experience as a whole.
Yuval also added by saying, “UX is one of the main components required to experience success when it comes to customer adoption rates in B2B/B2E products and dashboards. CX managers are an integral part of the product development cycle and add customer experience mindset to the design process.”
Yuval’s point of view highlighted the importance of UX strategy and how it helps with placing the customer and their needs at the center and how UX is a great means to empower customer adoption and retention. Placing customer experience directly in the product development design is likely to play a vital role in improving customer satisfaction and adoption.
Product enablement can be outlined as a strategy implemented for different departments of a company with the general aim of providing the company with relevant product knowledge. Product enablement additionally assists a specific company’s employees to deal with product related issues in their departments. Furthermore, the whole company goes through this process to serve the customer process as smoothly as possible.
The growth of product enablement has helped with customer satisfaction and customer adoption teams to improve their success rate as well by driving productivity rates through supporting sales strategies to grow. One way this has been made possible is by putting forth strong knowledge to the employees of a company of their product’s concept, use, advantages, features, etc. Another way this is possible is by implementing product enablement from the initial sales process, because it allows faster results and a better understanding by a company’s employees of the product in hand. The factors of the products are also made fully aware to the employees to take into consideration of the product’s performance, purpose, and anything else related to the product to increase success.
To have a successful and effective B2B or SaaS company it is crucial to adopt technological tools, because it boosts and provides stronger customer satisfaction, retention, and adoption rates, ultimately generating maximized success for the company.
The future is customer adoption, product adoption, and customer onboarding tools which will become an integral and undeniable part of the CX toolbox.