At the heart of your recurring revenue challenge: The shift to subscription licensing
Our research reveals that a third of companies in the technology industry have come to market with, or have moved exclusively to, a subscription licensing model—and most of the rest are transitioning to one. Whether your company is in that transition, planning for it, or seeking to revenue-optimize its current subscription model, ServiceXRG can provide research, resources, and proven practices to retain and grow your recurring revenue.
The subscription licensing model places significant, business-critical demand on your service team to sustain customer relationships, thereby becoming a reliable, long-term generator of recurring revenue. Every service employee must demonstrate to your customers every day that your company is committed to creating, maintaining, and expanding high-value relationships.
Understanding the barriers to retaining and growing recurring revenue.
Our research reveals several consistent customer service themes as technology industry companies transition to subscription licensing models:
- Customers are at risk if they are not fully productive with the product(s) they purchase. When product adoption and success rates are low, customer churn is high.
- Service organizations are not optimally organized to meet the critical need for the proactive customer outreach that’s necessary to drive product adoption and successful outcomes.
- Service transactions are not creating opportunities to sustain and grow recurring revenue. Meaningful customer interactions and valuable, outcome-focused success offerings are essential to increasing net recurring revenue.
When your customers are successful with your product, you’ll be successful with your recurring service revenue model. That’s why we’re here.
ServiceXRG offers access to an extensive resource library to help your customer-facing operations embrace the subscription paradigm and focus on increasing net recurring revenue.