Expansion | Growth | Up-Sell |Cross-Sell
Strategies and practices for the expansion of customer relationship value
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
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.
Technology service programs are evolving to offer new value and benefits such as use and adoption assistance and resources to help attain successful outcomes. As technology service programs change service marketing must evolve beyond selling the initial service engagement and focus on sustaining and growing relationship value.
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.
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.
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.
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.
Half of the organizations we surveyed executed on LESS than half of these core Customer Success actions. How does your company stack up — and where can you improve?
Company executives understand that selling services alongside core product offerings leads to greater alignment and customer value, while subsequently decreasing the likelihood of customer churn and loss of recurring revenue. Well-defined services and the means to sell them are imperative. so why is selling services so difficult? This article introduces 10 ways to help Sales teams sell services.
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.
Service and Success programs are a significant source of revenue. To assure that they yield their maximum revenue potential, treat service portfolios as strategic offerings in the corporate portfolio by assigning dedicated program management resources.
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.