Companies, organizations, and associations are not just competing for revenue, but whether or not or how much one of their customers take action on the value provided.
The metric behind this is called “Adoption Rate of Services.” In other words if the organization has 500 amount of customers and offered service X, then a 10% of using service X would be 50 customers.
Why is Adoption Rate important?
It’s because if a customer enrolled in an annual subscription and didn’t use the services provided then wouldn’t renew the following year. This results in customer attrition, higher customer acquisition cost, and less profitability.
Ways to decrease adoption rate competition
Eliminate too many choices
A confused mind says no. Eliminate duplicate products and services that perform the same function.
Far too many have systems and tools except they don’t how to use them. Best practices are created from those who have achieved measurable results, not just explained in theory. Once you find a avatar who exemplifies the behaviors others can model to reach similar success then the adoption rate increases.
Training the right people
You can’t make a salesperson sell more unless they have the personal drive to be in front of customers. It doesn’t matter what system you have if you have the wrong people on the bus. This is solved during the interviewing process. If the right people were on the bus and recognized value in your offering most everyone would take it.
Teach supporting skill sets
If your sales professionals don’t have basic computer skills, cannot gracefully handle objections, or can influence others to take action then it doesn’t matter which CRM (customer relationship management) tool you provide. Additional skills might be necessary in order for someone to receive success with the new value you provide.
Address the problem, not the solution.
Many organizations have solutions looking for problems instead of trying to solve existing problems. This causes the person to continuously search for more things to do rather than focus on their primary activities needed to accomplish their goals. When your constituents determine how they define success before you launch a new product/service they now have a target they can pursue.
Questions to ask before enrolling in a new program, service, or product…
- How much urgency is there for this product/service?
- What is the total tangible, intangible, and peripheral benefits?
- What are the metrics associated measuring the impact of this product/service?
- How long will it take to release this new product/campaign?
- Is there an avatar who can model best practices and get results?
- What are some roadblocks or objections you might receive from your employees/customers?
- What are the risks associated with delivering this new product/service?
- What is the worst that can happen?
- Will we lose credibility by integrating this into our operations if it fails?
- What is the perceived return on investment?