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Service Revenue Generation Metrics

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.

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How Effective are Your Renewal Practices?

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.

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Are You Ready for the End of Organizational Silos?

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.

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Bad Attach? Is There Such a Thing?

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.

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Stemming Maintenance Contact Attrition

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.

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Improve Customer Experiences by Understanding What Users Want and Need

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.

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