In a competitive Software as a Service (SaaS) industry, getting users to adopt your product is invaluable. Statistics show there are over 17,000 SaaS companies in the U.S. alone. For this reason, the new product adoption process must be a priority to enhance your firm’s competitiveness.
In this article, we answer the question: what is product adoption? Also, we discuss the steps of the product adoption process for existing and new products. Besides, we explain the benefits of product adoption software for your firm. Lastly, we highlight factors to consider when picking a product adoption platform.
What Is Product Adoption?
Anyone using a new product or software wishes to navigate the process until they become experts. Nevertheless, the end-user’s learning curve is long, meaning they may require a guide to adopt the product. For this reason, the product adoption process is essential for new or upgraded products.
Product adoption is a journey where consumers start employing a product or service for their needs. The journey includes everything from awareness to product or service integration into a person’s routine. A company requires a seamless product adoption process to improve customer satisfaction and get an edge over the competition.
Five Steps of the Production Adoption Process
The product adoption process refers to the phases users encounter, from the initial interaction with a new product to when they begin using it. Below are the phases of the product adoption process:
- Awareness: Alerting people about the existence of a product or service is the first step of the product adoption process. Your marketing team should run targeted campaigns to raise awareness about the product or service to attract the user’s attention.
- Product Interest: Individuals who believe the product or service can solve their needs will develop an interest in it. The things that can trigger a user’s interest include product features, customer support, and price.
- Product Evaluation: After developing interest in the product, a potential customer analyzes its merits and demerits. In this stage, you should show the consumer why your product or service is better than the competition.
- Product Trial: Product trial is an invaluable part of the product adoption process as it can either retain or scare potential customers. At this level, the consumer has decided your product might solve their needs. The perfect way to get people to try your product is by providing free trials, demos, and samples.
- Product Adoption: It is the last stage where the user believes the product suits their needs. The product management team must work hard to convince the customers to start spending on their products. For example, a customer can adopt a product by starting to pay or renewing a subscription.
Guide for a New Product Adoption Process
The success of a new product adoption process for a small business depends on its marketing efforts and the product’s ability to solve a user’s needs. People trust the established brands more than the upcoming business since they never know if their services or products can solve their issues. For this reason, your marketing team must work hard to raise awareness, attract clients, and convince them to adopt the product. Here is a list of the steps to follow in the new product adoption process:
- And Loyalty.
Benefits of Product Adoption Software for Your Firm
Your primary objective in launching a new product is to get users to understand and use it. Although the product adoption process can be complicated, you can simplify it with the right product adoption tools. Here are the advantages of production adoption software for your business.
Improves Customer Experience Through Self-Service
Most people hate calling customer support teams to ask for guidance while using a product. According to Forbes, about 73% of clients desire to have the power to solve their problems without involving customer experience teams. Therefore, the product adoption journey must empower consumers to navigate the product alone for utmost success.
Production adoption tools enhance self-services by offering users the resources to learn, navigate, and use the service or product independently. A product adoption platform will offer progress tracking, surveys, interactive onboarding, and contextual guidance.
Encourages Many Early Adopters
Product managers must think of a strategy for getting more people to accept and use their product or service. Product adoption software makes it uncomplicated for product managers as it provides tutorials to help the customer understand why the product suits their needs. If the consumers understand the importance of your product in solving their issues, they will adopt it fast.
Maintain Users for an Extended Period
The success of a Software as a Service (SaaS) business depends on the churn rate. If the churn rate is low, the company will retain customers longer enhancing profitability. Studies show that cutting the churn rate by 5% can improve profit by 125%. For this reason, you must employ tools that encourage consumers to stick with your product for long.
The right product adoption tool ensures consumers understand a product’s value, reducing the churn rate. For example, a product adoption platform can offer chat support to help users navigate a complex product.
Factors to Consider When Selecting the Best Product Adoption Platform
The success of your product will rely on the kind of product adoption software you will employ. You might find it complicated to find a product adoption software that suits your business needs. Here are the factors to consider when picking a suitable platform:
- Ease of use.
- Ability to integrate with other tools.
- Customization capabilities.
- Safety and compliance.
- User feedback mechanisms.
- And a correct price-to-benefits rate.
The product adoption process is crucial for the success of your SaaS business. Following all steps from awareness to adoption will make users understand and use your product. Furthermore, it can reduce the churn rate, which increases your company’s productivity.
The product adoption process is easier when you utilize product adoption tools. However, you must observe due diligence when picking a product adoption platform to get value for money.