Service revenues continue to play a greater role in driving both top-line and bottom-line revenue growth in technology companies. For those who deploy their technology on a customer site, maintenance and support revenues represent a significant percentage of their service revenues. As a result, these companies are receiving increasing pressure from their C-level executives to grow maintenance and support revenues year over year, which adds to the expectations for sales and marketing leaders to make that growth happen.
However, before you can start down the path to growth, you should first assess the health of your existing maintenance and support revenues so that you can make the right investments, solve problem areas, and address any blind spots in your current reporting. Here is a list of 5 critical key performance indicators (KPIs) sales and marketing can use to measure the health of maintenance and support revenues.
As more traditional businesses migrate to the cloud, they are quickly discovering what companies who were “born-in-the-cloud" have known for a while: you have to manage customer engagement to drive adoption, retention, and renewal. It's these three elements that led to the inception and growth of the customer success concept, but what exactly is customer success and what role can other service lines play in its execution? At TSIA, this is a question that is top of mind for many of our members. To provide some insight on how customer success relates to my specific area of research, education services, I'd like to provide an overview of the primary responsibilities of customer success and 7 ways education services can contribute to these activities.
When it comes to developing new offers for your education services business, you'll want to make sure you're providing offers that your customers want. So, how do you differentiate between what your customers want and what your education organization thinks they want? At TSIA, we recently conducted an Education Services Offer Development Survey, which aimed to collect insight regarding how education services (ES) organizations are leveraging new offers to maximize revenues and increase customer adoption. Based on the results from this survey, we learned some interesting details about what customers want compared to what they're receiving from their education services provider, which I'd like to share with you.
When technology companies need to grow their revenue and profits, they come to TSIA. We provide our members with the relevant industry research, business frameworks, and benchmarking they need to optimize their service businesses, overcome top challenges, and achieve their goals. To share an example of what you can accomplish with a TSIA membership, here's a case study of how we helped one of our members within the industrial equipment industry improve customer adoption of their technology with their existing field services team.
Customer success has become a hot topic in the technology industry, and with good reason. Technology companies are recognizing that it's essential to engaging, retaining and growing customer relationships over time. Each year, TSIA conducts a baseline survey to understand the current state and emerging practices for customer success. With the help of this data, we've created a list of recommendations for building a customer success function within your company.
In my last blog post, I talked about how education services organizations can use certification programs as part of their customer adoption strategy. Now that you know more about the role certification can play in keeping your customers engaged with your content, it's worth evaluating how your current certification program stacks up based on industry best practices, or if you do not yet have a certification program, looking into how you can get started.
In today’s subscription-centric world, customer churn is like kryptonite. Even in small amounts, it is toxic to the business. It’s therefore not surprising that service organizations are looking for every lever they can pull to drive customer adoption of their solution as a means to help secure subscription renewals.
As adoption becomes the most important objective for education services organizations, it's important to keep in mind that not all adoption is created equal. Adoption falls along a gradient consisting of low, to high, to effective consumption of a product or service. When it comes to education services, the best way to gauge where someone is on the adoption gradient is to think about it in terms of the content you're providing, and how it's being consumed by your learners. The processes for measuring this consumption varies by whether you're delivering content using a "broad" or "deep" approach, which we'll discuss in just a bit.
As technology solutions providers, you want to make sure your customers are effectively using and adopting your company's products and/or services. When customers are able to achieve their desired business outcomes with a solution, they’re likely to spend more with your company, so it’s in your best interest to make sure customers are realizing a solution’s full potential and achieving their ROI. The best way to ensure this is to provide adoption services that give your customers the training, support, and resources they need in order to realize the full value of a solution.
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