Your Support Value Proposition is Out of Date
Changes to product licensing – perpetual to subscription – will change the services and benefits customers need and expect from you. Make sure that your value proposition is up to date and relevant to the way you license products and deliver services.
From Product to Subscription-Centric Value
The benefits promised from post-sales services need to reflect the needs and expectations of customers. Support and post-sales service benefits can be so much more than commitments to keep technology up to date or the speed that issues will be responded to. Customers need and expect that your products will positively impact their business.
Consider how the elements of your service value proposition must change as you switch from product-centric perpetual licensing to subscription services.
Make sure that your value proposition is aligned with the way that you license products and deliver services.
Structure your value proposition to convey how your services will help customers use your products (onboarding and adoption) and apply them effectively (success services) to yield tangible business outcomes.
Evaluate your current service offers and consider what if any new services are required to meet customer needs and expectations.
Train and enable sales channels (direct and partners) to articulate your services value proposition.
Reinforce service value throughout the customer relationship – not just prior to renewal.
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.
Modern, well-defined post-sales service portfolios that combine elements of Customer Support and Customer Success can significantly increase your ability to help customers use and apply products; reduce churn; and expand revenue growth. This article will help you to determine the type of post sales service portfolio you need.
High Net Promoter Scores as the desired outcome of Support and Customer Success interactions, while positive, is not enough because they it does not connect service delivery excellence with tangible business outcomes.
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.
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.
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?