Study shows that companies with formalized customer education
programs improve top-line revenue by an average of 7.6%
ATLANTA, May 14, 2024
/PRNewswire/ -- New research finds that companies with formalized
customer education programs see a considerable boost in top-line
business results, including increased revenue, improvements in
customer retention, and decreases in support costs.
The Forrester study, commissioned by Intellum, found that 96%
of respondents' organizations have had positive returns on their
investment in customer education.
In addition, companies reported an average 38.3% increase in
adoption of products targeted by training, 26.2% improvement in
customer satisfaction, 35% increase in average lifetime value per
trainee, 28.9% increase in win rates for new customers, and 15.5%
decrease in customer support costs.
"For years, we've seen customer education drive retention,
product adoption, and customer satisfaction," said Greg Rose, CXO at Intellum. "This report
confirms that forward-thinking companies are leveraging education
to bridge the gap between pre and post-sales. By pulling education
forward in the customer lifecycle, they're increasing win rates and
accelerating deal cycles, further demonstrating the impact of
customer education on revenue growth."
Additional Findings
- High-success organizations are more likely to have fully
formalized education programs—rather than ad hoc efforts.
- When high-success organizations contract third-party vendors,
the focus is gaining expertise, skills, and innovation they don't
have in-house, rather than cost or faster development time. As a
result, these organizations get far more out of these
engagements.
- High-success organizations consider a diverse learning content
mix, mobile accessibility, platform scalability, and support and
guidance from platform vendors as the most important elements of
running a successful customer education program.
About the Study
Earlier this year, Intellum
commissioned Forrester to evaluate the current state of customer
education programs. The research included an online survey with 300
customer education decision-makers from U.S.-based companies to
explore the use and success rates of customer education. The survey
was conducted during February and March
2024. Download the full study here.
About Intellum
Intellum provides the corporate
education platform that large brands and fast-moving companies rely
on to improve product adoption, customer retention, and revenue.
Intellum's scientific, data-driven approach is based on 20+ years
of industry experience. The Intellum Platform includes all the
tools an organization needs to create, deploy, manage, track, and
improve highly personalized, engaging educational experiences. To
learn more, visit https://Intellum.com.
Media Contact:
media@intellum.com
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SOURCE Intellum, Inc.