Selling training is crucial for product companies, especially those whose main product isn’t training itself. Why aren’t more product companies weaving training into their offerings? This isn’t just about enhancing your product but ensuring your customers get the most out of it.
Why is Selling Training Important?
A quality training program is the highest leveraged investment you can make into customer success. Whether you’re a startup or a large multinational, a robust training program can significantly impact your business. Here’s why:
- Faster, More Successful Implementations: Training alongside implementation ensures smoother, quicker rollouts.
- Lower Support Volume: Proper training reduces the need for support tickets, saving time and resources.
- Better Adoption: Training increases both the speed and breadth of product adoption.
- High-Quality Product Feedback: Training sessions provide valuable insights and feedback from users.
- Early Warning System for Churn: Training engagement can indicate customer satisfaction and potential churn.
- Increased Customer Retention: Well-trained customers are more likely to stick with your product.
Beyond customer success, a solid training program brings several downstream benefits:
- Revenue and Profit: Selling training can become a significant revenue stream.
- Internal Improvements: Best practices from customer training can improve internal training.
- Enhanced Company Culture: A culture of learning and agility can drive overall business success.
Selling your training ensures both your customers and your organization value it. Free training often leads to low engagement and completion rates. On the other hand, selling training:
- Prioritizes and values the training within your organization.
- Justifies the investment in resources and time.
- Drives customer engagement and retention.
- Overcoming Challenges
Why Aren’t More Companies Selling Training?
If this is such a slam dunk, why don’t more companies prioritize it? The challenges are usually twofold: platform limitations and sales mechanism hurdles.
Here’s how Administrate can help:
- Platform: Our software is designed to support training at scale, handling everything from scheduling to reporting.
- Sales Mechanism: We’ve developed innovative business models like tokens and subscriptions to make selling training alongside your product straightforward.
Jump into this video and see which business models our customers are using, and how a training management system like Administrate helps sell training.
