Insights highlight the critical role customer education plays in accelerating product adoption and improving retention.
SEATTLE, June 22, 2022 /PRNewswire-PRWeb/ -- Skilljar, the recognized leader in software that powers customer and partner training, today announced the launch of their 2022 Customer Education Benchmarks and Trends Report. According to the report, companies are demonstrating the value of their customer education programs by driving strategic business outcomes such as faster time to value, increased customer retention, and higher customer satisfaction.
Skilljar gathered insights from customer and partner education professionals, combined with an analysis of anonymized and proprietary hosted data. The comprehensive and industry-leading report covers a wide range of unique trends related to budgets, content formats, monetization strategies, course completion rates, team organization, and more.
Key insights from the research include:
- 75% of customer education programs secured a budget increase from 2020 to 2022.
- Over 70% are enhancing their measurement of how customer education drives revenue and profitability.
- Virtual Instructor-Led Training (VILT) programs increased over 5X due to remote work.
- On average, companies see 29% of their user base engage with training annually.
Investments in customer education are on the rise as more companies rely on education as a critical factor for efficient product adoption, and see it as a cost-effective way to support customers and protect revenue.
"The value of investing in customer education is clear," said Sandi Lin, CEO and Co-Founder of Skilljar. "Trained customers are your best customers because they are more satisfied, renew more often, and cost less to support. Companies who deeply value their customers are ramping up their investments in order to drive better business outcomes."
The research revealed that measuring the revenue impact from training continues to be a key focus area for customer education professionals. Over 70 percent of respondents plan to do more to measure the multiple ways that customer education influences revenue and profitability, which includes revenue expansion, retention efforts for trained accounts, and support ticket deflection.
"As customer education teams mature, more and more are tying education metrics directly to revenue and cost savings," said Sara Barnes, Vice President, Customer Success. "Skilljar is easily integrated with our customers' existing tech stack to make these insights accessible and actionable."
The 2022 Customer Education Benchmarks and Trends Report is an additional key milestone in what has already been an impressive 2022 for Skilljar:
- Significant product enhancements to the best software for customer onboarding and training including:
- Launched File Upload functionality that enables learners to upload assignments to Skilljar for the instructor to review, comment, and grade.
- Introduced Custom Roles to give admins more flexibility beyond standard role definitions.
- Launched VILT Waitlists allowing learners to join a waitlist when the available seats for a live training event are full.
- Created Training Credits for companies to purchase training via PO and assign digital codes for learners to access courses.
- Rapid growth in Skilljar's customer base with impressive wins at fast-growing and admirable organizations such as Reddit, Chili Piper, and MNTN.
- Announcement of its annual two-day user conference, Skilljar Connect 2022: The Premier Customer Education Conference, hosted in San Diego, CA, Nov. 14-16, 2022.
- Recognized as a leader by G2 for Customer Education Software and as Top Rated by TrustRadius for Customer Training Software.
Since its founding, Skilljar has set a bold path in the customer and partner education industry by providing a powerful, easy-to-use external LMS that is unmatched in the market. The 2022 Customer Education Benchmarks and Trends Report is a reflection of the growth and positive impact companies are having through their customer and partner education efforts as well as the further evolution of the customer education industry at large.
To download a copy of the 2022 Customer Education Benchmarks and Trends Report, visit https://www.skilljar.com/customer-education-benchmarks-and-trends-report.
For more information, please visit http://www.skilljar.com.
About Skilljar
Skilljar is the best external LMS to educate, engage, and retain everyone you do business with. Skilljar believes that the most successful companies are those that have the most users who know how to successfully use their products. Purposefully built for external audiences and a great user experience, Skilljar's powerful cloud software integrates with the rest of the customer-facing tech stack such as CRM, marketing automation, and customer success tools. Founded in 2013, Skilljar is based in Seattle and backed by top-tier venture capital firms Insight Partners, Mayfield, Trilogy Equity Partners, and Shasta Ventures. For more information, visit http://www.skilljar.com.
Media Contact
Michael Freeman, Skilljar, 1 (408) 359-7334, [email protected]
SOURCE Skilljar
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