Treat Your Service Portfolio as a Product Line
Service and success programs are a significant source of revenue. To assure that they yield their maximum revenue potential they must keep pace with customer needs and expectations.
Formal Product Management of Service Portfolios
Treat service portfolios as valuable offerings by assigning dedicated program management resources to keep offerings up to date and relevant. Consider the following:
Develop service and success portfolios that span delivery silos (Support, Success, Education, Professional Services, etc.).
Assign a full-time dedicated product manager to lead program management activities for the service / success portfolios across service disciplines and related product families.
Establish goals and objectives for the service program manager based on performance and revenues directly associated with sale and renewal of service and success offerings.
Grow the team of portfolio product managers to keep pace with the size, complexity, and financial performance of the service portfolio.
To assure that your service and success portfolio remains relevant to customer needs review and update offerings on an ongoing basis. Consider adding new offerings and enhancements as customer needs evolve. Be certain to define and articulate the value of all offerings and reinforce service benefits to help sustain customer relationships.
Login to Access the Full Report
If you don’t have an account, create a free* membership.
*Membership level determines your access to ServiceXRG research and other member services. Paid memberships include access to research and playbooks. Free memberships include access to some reports and discounts to others. Please visit our membership page for a list of available membership programs.
A well-defined CX strategy combined with an effective Customer Success (CS) operating model can yield significant and tangible benefits including retention and expansion of existing relationships and the strengthening of your product and service reputations.
It is no longer enough to attach a support program to a product sale. Effective Success Sales teams must be able to establish long term service relationships that last and grow well beyond the initial sale.
In a subscription economy your support value proposition is likely out of date. If your value proposition is based on promising access to update and service level response its time to for support value proposition refresh.
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 current organizational structure of your Services team and alignment with other customer facing resources may inhibit your ability to retain customers and expand relationship value. Organizational alignment, increased cooperation, and shared goals are key to customer retention and revenue expansion initiatives.
Customer Success is a series of interrelated activities performed throughout the customer relationship lifecycle. This article identifies and defines critical success activities.