In our previous installment, we reviewed some results from a recent scientifically significant survey of Independent Software Vendors (ISVs), which largely point to a growing enthusiasm around Digital Adoption Platforms (DAPs). We also announced an exciting new product called Whatfix for ISVs. In this post, we’ll review a few more results and discuss where the excitement for DAPs comes from.
Let’s start at the beginning. Software onboarding and adoption have been tough nuts to crack since the dawn of Silicon Valley, and the issue is especially clear and relevant in the Saas space. If Saas offerings are not being used, or are being used poorly, there will be no expansion opportunities, no upsell opportunities, and most importantly, no renewal. This crushes the Saas business model, which hinges on increasing recurring revenue.
Many ISVs (and their partners) make heavy investments in lengthy and complicated implementation cycles – for good reason. ISVs have a substantial interest in ensuring the long-term, effective usage of their products. There is a reason that “go lives” are such celebrated milestones!
With this mind, consider this stunning statistic from our ISV survey: only 16% of respondents felt that they were satisfactorily meeting their onboarding and adoption goals. To state the obvious: the large majority (84%) of ISVs are not satisfied with their onboarding and adoption strategies. This is clearly a significant pain point for ISVs with a real impact on the bottom line.
ISV leaders are looking for help, which likely contributes to the ISV community’s growing embrace of DAPs. The survey data continues to support the value of DAPs: 81% of respondents expect a DAP to significantly improve their customers’ time to value.
Reading into the results a bit more, it is clear that the majority of ISV leaders understand that faster onboarding and user adoption generates a momentum that leads to increased ROI. Faster time-to-value is a win/win scenario for everyone involved and paves the way for deeper partnerships and continued innovation.
These beliefs translate directly into brass tacks: 71% of respondents stated that they would be able to sell their products at a price point of 10% or more if those products were bundled with a DAP platform. ISVs know they need help, and they are confident that leveraging a DAP will be a solid investment
Whatfix’s new offering Whatfix for ISVs is designed to help ISVs decrease time to value and increase user adoption from day 1 – allowing customers to effectively leverage their products to their fullest potential.
In our next installment, we’ll discuss specific case studies and examine how DAP solutions directly impact the way ISVs can approach and provide value to their customers.