The amount of recurring revenue a company receives may increase, stay the same, or decline for a given period. Recurring Revenue Rate indicates the percent change in the amount of recurring revenue at the end of a specified period compared to the recurring revenue at the beginning of the same period. Measuring recurring revenue rate is essential to help identify the factors that lead to revenue retention and attrition and provides an indicator of the overall state of customer relationship health.
The Support organization encompasses extensive experience and expertise about how to use and apply products. Access to this Support knowledge is the primary reason customers contact Support. This article explains how companies can maximize the return on the creation and distribution of Support knowledge.
Healthy customer relationships require an ongoing dialogue through digital media, self-help, communities and direct interaction with Support and Customer Success team members. This article introduces eight customer interaction best practices to engage and retain your customers.
The use of Self-Service deflection as a basis to justify investments in Self-Service fosters an expectation that it is only capable of reducing costs. This article explains why Self-Service is vital to a successful service strategy and delivers benefits well-beyond cost reduction.
To develop and sustain a lasting customer relationship you must have a clear understanding of their expectations and the ability to help them achieve their outcomes. This article introduces six assessment practices to stay current with customer outcomes.
Self-Service deflection can provide both benefits as well as some unintended consequences. This article introduces what to expect from self-service deflection and how to prepare for possible consequences.
Planning for customer success starts with establishing how your customers define success with your products. By understanding what your customers expect it is possible to align resources to help customers achieve their desired outcomes. Six steps to effective Customer Success planning practices to engage and retain your customers.
Self-Service deflection is the rate at which self-help and automated resources satisfy customers’ service demands that would otherwise be handled by assisted service staff. This article introduces a concise definition for self-service deflection and lays out six steps to reliably measure this metric.
Successful onboarding is essential to get customers set up to use and adopt their new product and prepared to achieve their desired outcomes. This article introduces eight onboarding practices necessary to engage and retain your customers.
Self-Service deflection has averaged 22.2%. In 2020 self-help deflection stood at 19.8%. The industry trend for deflection has sloped down (-.5%) during the last decade. This article provides a historic view of deflection trends from 2010 to 2020.
Effective customer engagement starts with Service and Sales coordination. Know these seven essential sales-to-service handoff practices to help your organization foster continued Customer Success and recurring revenue growth.
Self-service is essential for companies meet growing support demand but should not be the only strategy companies rely on to scale support delivery. This article assesses the state of self-service tech support and examines the use of self-help and service automation.
Customer engagement is vital to long term positive relationships with customers. This article introduces the five essential customer engagement practices necessary to develop, retain and grow customer relationships.
What do you consider to be the top challenges for your service organization? Hiring, training and retaining staff? Transitioning to a subscription model? Implementing new service technologies? Redefining your service portfolio? Adopting success practices? Satisfying and retaining customers? Expanding revenue?
How much should you charge for Support? It’s a driving question as your organization seeks to drive recurring revenue growth. And it’s a balancing act. Let’s explore a Support pricing model that’s been shown to work equally well for businesses and their customers.