Customer Retention
Renewal Strategies | Customer Retention
Six Critical Service Practices for Business Success
Corporate financial performance depends on Services to nurture, retain, and grow customer relationship value. Companies are taking steps to modernize services and shift them to proactive, success-focused growth engines
From Tasks To Outcomes – Transforming The Service Organization
The current organizational structure of your Services team and alignment with other customer-facing teams may be inhibiting your ability to deliver outcomes. Organizational alignment, increased cooperation, and shared goals are key to customer retention and revenue expansion initiatives.
Recurring Revenue Rate
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.
Seven Engagement Practices for a Successful Sales-to-Service Handoff
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.
Three Critical Metrics to Retain and Grow Customer Relationship Value
You have a lot of customer data, but does it tell you everything you need to know about how to engage and sustain long term profitable relationships? ServiceXRG CEO Tom Sweeny explains his three critical customer relationship value metrics — why they matter, how to calculate them.
How to Measure Net Recurring Revenue
Net Recurring Revenue is a comprehensive indicator that reveals the extent to which you are retaining, expanding and growing customer relationship value. Examining the specific underlying elements that contribute to the calculation of Net Recurring Revenue provides the necessary insights to identify the root causes of churn, attrition and contraction. In addition, examining the reasons for revenue growth presents opportunities to embrace and expand practices that encourage expansion of relationship value.
Support or Success – What Type of Post Sales Service Portfolio Do You Need?
Support and maintenance portfolios have been the foundation of many post-sales service offers, yet Support offers alone are no longer adequate to sustain and growth customer relationship value. Modernization of support portfolios and the evolution to customer success-focused programs and offers is the future of post-sales service portfolios. This article will help you to determine what type of post sales service portfolio you need.
Moving Beyond Industry Average Renewal Performance
Industry average performance is not good enough. To maximize support and maintenance contract revenue you need a clear picture of your current situation or a plan to understand and mitigate attrition.
Beyond Service Metrics – Focus on What Really Matters
If you are an executive at an information technology company you have a lot to think about on a day to day basis, but there are 5 more things that you need to be aware of.
Your service organization is an incredible source of metrics and measurements that describe ongoing interactions with your customers. They can tell you about the top concerns of your customers, the challenges they face using your products and the features they want to see in the future.
Service interactions with customers offer a wealth of insights into how to sustain and grow customer relationship value and create opportunities to differentiate your products. Of all the metrics your service team tracks there are 5 important areas that you should key a close eye on.
Less NPS and More High-Touch Understanding
We have become too dependent on electronic surveys and NPS/CSat scores to tell us that our customers are okay. These are fine indicators but do not always tell us why we lose customers.
Service Renewal Metrics: Definitions and Benchmarks
As your Service organization strives to drive greater recurring revenue, it’s critical to pay attention to these essential service renewal metrics.
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.