Strategies and practices for retention and growth of customer relationship value.
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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.read more
Service renewal metrics indicate the level of performance for sustaining service relationships and retaining recurring revenue. Tracking both service contract renewal and recurring revenue retention is essential to help identify the factors that lead to customer and revenue retention and attrition and provide important indicators about the overall state of customer relationship health.read more
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
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
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
ServiceXRG presents the top findings from its comprehensive Customer Success Practices and Metrics Study.
Learn how to take your customer success initiative to the next level of performance and get your copy of the complete study findings.
ServiceXRG announces the immediate availability of a comprehensive study of Customer Success Practices and Metrics. This study examines the approach companies use to organize, deliver and measure their Customer Success initiatives.read more
If there is one service performance indicator to steer by it is RETENTION. You can have plenty of satisfied customers but still not grow, but you can’t grow unless you retain the customers you have.read more
ServiceXRG’s is pleased to be featured in the December issue of Software Executive Magazine. The article titled: The State of Customer Success – Where We Are and Where We Are Going draws upon ServiceXRG’s recent study of customer success practices and metrics.read more
Why aren’t you renewing more of your service contracts. The most common reasons for non-renewal are: Lack of perceived value; a customer stops using your product; a product reaches maturity; or poor service quality. Non-renewal is also caused by poor renewal practices. This article introduces the top reasons for non-renewal and offers practical advice for how to improve renewal rates.read more
There are many reasons why customers choose to cancel their service relationship. The most common reason for cancelation is that they do not perceive that the benefits outweigh the cost of continuing the service. Or, they do not feel that the risk is too great to cancel – this is a common perception by customers that use mature products. The least likely cause of customer cancelation is poor service quality.read more