Independent Software Vendors (ISVs) play a critical role in the evolution of modern technology stacks in every major vertical, often working hand in hand with partners to provide tools that increase the speed, efficiency, and utility of their customers. Just like any other company, ISVs are constantly looking to improve their ability to work directly with their end-users, especially in the areas of product/feature adoption, onboarding, training, and ultimately, customer retention.
Our team at Whatfix has long recognized the importance and unique technology needs of the ISV community. In this blog series, we’ll be examining the findings and data from an independent, scientifically conducted survey of the ISV community, with questions focused on product onboarding, product adoption, and Digital Adoption Platforms (DAPs). The survey targeted multiple personas (Product, CX, Alliances, L&D, Services) at B2B ISVs that primarily sell into the Enterprise space.
Among other things, we were excited to learn that the survey data reflects a growing enthusiasm for the DAP space within the ISV community.
Let’s dive in…
More than 90% of survey respondents were confident that a DAP would improve their product’s onboarding experience.
The value associated with this statistic should not be underestimated. Confidence in product onboarding is key to not only delivering on the promise of a software implementation (especially so in the enterprise space), but also naturally improves usage rate, logins, and the overall value of the software.
Consequently, it can be inferred that the ISV community at large understands that a DAP is not only beneficial to their customers, but also themselves: creating a better onboarding experience has a dramatically positive impact on renewal and retention rates of all types of software offerings.
75% of survey respondents are strongly considering implementing a DAP in the next 1-2 years.
These types of offerings are universally appreciated by customers and have enormous business benefits, so it’s hardly a surprise.
What is surprising? Nearly 70% of these same respondents indicated their customers would be willing to pay more for their software to start benefiting from DAP technology from the very start of their implementation.
The insights above, and more that will be discussed in subsequent blog posts, have played a direct role in the development and prioritization of Whatfix’s upcoming addition to its product suite: Whatfix for ISVs.
Whatfix for ISVs overlays on top of ISV applications, appearing completely native to the product. Offering in-app guidance, personalized training, contextual help, and on-demand support, the goal of this solution is to dramatically increase the value and usage rate of any application offered by an ISV.
In the next installment of this series, we’ll dig into why the large majority of ISVs are confident in the value of a DAP.