{"id":2313,"date":"2023-08-06T15:34:53","date_gmt":"2023-08-06T15:34:53","guid":{"rendered":"https:\/\/www.cxformula.com\/?p=2313"},"modified":"2024-01-29T17:13:54","modified_gmt":"2024-01-29T17:13:54","slug":"time-to-first-value-why-it-matters-in-your-business-and-how-to-improve-it","status":"publish","type":"post","link":"https:\/\/www.cxformula.com\/time-to-first-value-why-it-matters-in-your-business-and-how-to-improve-it\/","title":{"rendered":"Time to First Value &#8211; Why it Matters in Your Business and How to Improve it."},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"2313\" class=\"elementor elementor-2313\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"elementor-section elementor-top-section elementor-element elementor-element-885f7c4 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"885f7c4\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-9cd2a10\" data-id=\"9cd2a10\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b4537a6 elementor-widget elementor-widget-text-editor\" data-id=\"b4537a6\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.21.0 - 30-04-2024 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p>Time to First Value (TTFV) is the amount of time it takes for a customer to get value from your product or service. Getting your customers engaged and providing them with true value early on is critical when it comes to retention and engagement. In fact, a study by OpenView found that shortening TTFV can increase customer lifetime value by as much as 38%!<\/p><p>So, how can you reduce your TTFV and get your clients moving forward much faster? Here are a few tips:<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0e3fb24 elementor-widget elementor-widget-heading\" data-id=\"0e3fb24\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.21.0 - 30-04-2024 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h2 class=\"elementor-heading-title elementor-size-default\">1. First, identify what \"value\" means for your customers.<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a907582 elementor-widget elementor-widget-text-editor\" data-id=\"a907582\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Of course, this will vary depending on your business, AND \u2013 value is someone\u2019s perception \u2013 so get clear on WHO your customers are, and ensure you get them a win right off the bat.<\/p><p>A few examples might include booking an appointment, signing up for a free trial, delivering their free PDF quickly, etc. Once you&#8217;ve figured out what &#8220;value&#8221; means to your specific client avatars, you can find ways to deliver that first value, much more quickly.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-415ed5c elementor-widget elementor-widget-heading\" data-id=\"415ed5c\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">2. Make your onboarding process customer-centric.<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1d9cf7e elementor-widget elementor-widget-text-editor\" data-id=\"1d9cf7e\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Your onboarding process should be designed for your customer to get up to speed and transition into your world quickly, pleasantly and effectively \u2013 it\u2019s about them &#8211; not you!<\/p><p>What do they need to know in order to get value from your product or service? How can you make their first impression of their experience as a new customer as smooth, seamless, and positive as possible?<\/p><p>Think about ways you can simplify the steps in the process, and make sure you&#8217;re providing adequate support to help them transition.<\/p><p>It&#8217;s also important to set realistic expectations upfront so customers know what they can expect along their journey. Over-promising and under-delivering is a surefire way to disappoint customers and lengthen TTFV. <\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-303220d elementor-widget elementor-widget-heading\" data-id=\"303220d\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">3. Get feedback early and often.<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a68a1d1 elementor-widget elementor-widget-text-editor\" data-id=\"a68a1d1\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>You have to confront the facts\u2026You can&#8217;t improve (or fix) something if you don&#8217;t know there&#8217;s a problem &#8211; so make sure you&#8217;re regularly collecting feedback from customers during the onboarding process (and beyond). This will help you identify areas where a process might need to be improved and help you make changes accordingly.<\/p><p>There are a number of ways to collect feedback, including surveys, phone calls, live chat transcripts, email responses, and social media monitoring. Regularly review this data and look for patterns or common themes &#8211; this will help you focus your efforts on the areas that will have the biggest impact. <\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6f07abf elementor-widget elementor-widget-heading\" data-id=\"6f07abf\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">4. Measure TTFV and track progress over time.<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b26be8f elementor-widget elementor-widget-text-editor\" data-id=\"b26be8f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Things that get measured get done! You can&#8217;t improve TTFV if you don&#8217;t measure it &#8211; so make sure you&#8217;re tracking this metric or Key Performance Indicator (KPI) on a regular basis. This will help you see how your efforts are paying off, AND it will also provide valuable data that can be used to further refine and enhance your onboarding process.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-99bed08 elementor-widget elementor-widget-text-editor\" data-id=\"99bed08\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Reducing the TTFV is essential for ensuring the success of your customers, and ultimately driving the growth of your business.<\/p><p>When you\u2019re ready to take this to a whole new level, reach out and ask us how you can transform your business from having customers with potential into being Kinetic Customers\u2122!<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Time to First Value (TTFV) is the amount of time it takes for a customer to get value from your product or service. Getting your customers engaged and providing them with true value early on&#8230;<\/p>\n","protected":false},"author":1,"featured_media":2327,"comment_status":"closed","ping_status":"open","sticky":false,"template":"elementor_theme","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[41],"tags":[39],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.cxformula.com\/wp-json\/wp\/v2\/posts\/2313"}],"collection":[{"href":"https:\/\/www.cxformula.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cxformula.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cxformula.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cxformula.com\/wp-json\/wp\/v2\/comments?post=2313"}],"version-history":[{"count":25,"href":"https:\/\/www.cxformula.com\/wp-json\/wp\/v2\/posts\/2313\/revisions"}],"predecessor-version":[{"id":3325,"href":"https:\/\/www.cxformula.com\/wp-json\/wp\/v2\/posts\/2313\/revisions\/3325"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.cxformula.com\/wp-json\/wp\/v2\/media\/2327"}],"wp:attachment":[{"href":"https:\/\/www.cxformula.com\/wp-json\/wp\/v2\/media?parent=2313"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cxformula.com\/wp-json\/wp\/v2\/categories?post=2313"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cxformula.com\/wp-json\/wp\/v2\/tags?post=2313"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}