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The ability to accurately track the effectiveness of Service Revenue Generation activities is essential to maximizing revenue from new and existing customers. There are three primary opportunities to capture service revenue including the sale of new contracts at the time of the initial product sale (Attach); renewal of existing service contracts (Renew); and as reinstatements (Win Back) of contracts that have been previously cancelled by customers. This article presents a consistent set of metrics and definitions to help companies measure the overall of service sales and renewal policies, programs and personnel.read more
Five Characteristics of Highly Effective Service Organizations The start of a new year is a time when many service organizations embark on new initiatives to improve the effectiveness of service operations. Delivery strategies, systems, programs, organizational...read more
Use ServiceXRG’s Contract Renewal Assessment tool to get an immediate evaluation of your current renewal practices and performance. The assessment takes just a few minutes and will provide you with a customized performance scorecard with recommendations for improving contract renewals.read more
For knowledge management to yield maximum benefit the organization must properly fund and support the initiative. The lack of support is the primary reason for the failure of knowledge management projects.read more
Coordination and cooperation across customer facing departments makes good business sense. So why aren’t more companies creating unified post-sales organizations? ServiceXRG examines the current state of Service and Sales cooperation and the forces at work that are driving organizational transformation. This study reveals how the isolated sales and service silos of the past can evolve to drive Customer Success.read more
If you only care about the first-year revenue from support and maintenance contracts, then any attach is a good attach. If you want to maximize revenue from the support annuity , then contract attach followed by a successful renewal is essential.read more
Companies that attach services to their core products, professional services firms, and companies that sell their products as-a-service need to be aware of New Revenue Recognition Standard (ASC 606).read more
Customer Success is a series of interrelated activities performed throughout the customer relationship lifecycle. This article identifies and defines critical success activities.read more
When achieving industry-average renewal performance the percent of customers under contract erodes to 46% of the original relationships at the end of a five-year period. Here are suggestions for moving beyond industry average performance.read more
Web-based activities have become a significant factor in shaping customer experience and influencing the perceptions customers have about companies and their products. The majority of on-line interactions are unassisted, where customers are encouraged to serve themselves.read more
The ability for a service organization to maintain an acceptable level of customer satisfaction and deliver a reasonable customer experience begins with a company’s understanding of what its customers need, want, and expect. When customer expectations are not well known or more importantly not managed – the instances of dissatisfaction will rise.
This article describes the factors that affect customer satisfaction and experience levels.read more
This article introduces seven critical steps for successful service delivery automation and examines the intricacies and challenges associated with automating service processes.read more