The Cost of Onboarding Clients

10 November 2020

The Cost of Onboarding Clients

Is a good start half the battle? It is when it comes to building a relationship with new clients and customers. The onboarding process is a customer’s first interaction with your organization. A smooth process leaves a good first impression and a foundation of goodwill that can be further built upon, while delays and obstacles can be off-putting. 

Consider these facts from the world’s most successful tech companies:

  • Research by American tech giant Salesforce suggests that 74% of people are likely to switch brands if they find the purchasing process too difficult. Lengthy delays, asking for more information than you need, or providing an impersonal experience can contribute to this. Forrester says 66% of adults believe “valuing their time” is the most important thing a company can do to provide a good online customer experience. 
  • According to Google, 74% of people will revisit your website if it’s user-friendly and 50% of customers will stop visiting it if it’s not. Instinctively, we understand this because it’s how we use – or don’t use – online services in our own daily lives. It’s crucial to provide a process that is frictionless. 
  • At Oracle, research suggests that three out of four (74%) consumers say they have spent more with a company because of a history of positive customer service experiences. Investing in your onboarding process has a direct impact on your organization’s bottom line.

Creating a hassle-free, seamless onboarding process can have a lasting impact on your business’s reputation, customer satisfaction, long-term client loyalty, future referrals, and ultimately for sales and profits. Prioritising a good first impression lays the groundwork for an ongoing partnership. That’s why Horizon8 is making the onboarding process with a user as straightforward as connecting with someone on LinkedIn. 

valid8Me’s digital identity vault dramatically cuts the time it takes to onboard a new customer or client. Instead of a lengthy manual process of sending email attachments back and forth, your new customer simply grants you access to the documents you need from their digital vault. The customer retains full ownership and control of their data at all times, and the process takes minutes. 

By empowering the customer, prioritising their privacy, and – most importantly – creating a frictionless onboarding process, your organization can retain business that might otherwise have dropped off along the way. 

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